Goldman plans 15-year callable quarterly notes tied to CMS rates

By Susanna Moon

Chicago, Aug. 8 - Goldman Sachs Group, Inc. plans to price 15-year callable quarterly CMS spread notes 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 9% for the first year. After that, the coupon will be 5 times the spread of the 30-year CMS rate over the five-year CMS rate, up to a maximum rate of 9%. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

The notes are callable in whole at par plus accrued interest on any interest payment date beginning in February 2014.

Goldman Sachs & Co. is the underwriter.

The Cusip number is 38147QMJ2.

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