By Susanna Moon
Chicago, April 30 - Goldman Sachs Group, Inc. priced $20.5 million of 15-year callable quarterly CMS spread notes due April 30, 2028 linked to the 30-year Constant Maturity Swap Rate and the five-year CMS rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 8% during the first year. After that, the coupon will be four times the spread of the 30-year CMS rate over the five-year CMS rate minus 25 basis points, subject to a maximum rate of 8% and a minimum rate of zero. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable in whole at par plus accrued interest on any interest payment date beginning Sept. 27.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly CMS spread notes
|
| Underlying rates: | 30-year Constant Maturity Swap and five-year CMS rate
|
| Amount: | $20.5 million
|
| Maturity: | April 30, 2028
|
| Coupon: | 8% for first year; after that, four times CMS spread minus 25 bps, capped at 8% with floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Oct. 30, 2013
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.71%
|
| Cusip: | 38141GSM7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
