New York, Feb. 26 - Goldman Sachs Group, Inc. priced $1 million of callable quarterly CMS spread-linked notes due Feb. 27, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 9% for the first year. After that, the rate will be (i) 5 times (ii) the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate, subject to a minimum rate of 1% and a maximum rate of 9% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning Aug. 27, 2014, the notes will be callable at par on any interest payment date.
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: | $1 million
|
| Maturity: | Feb. 27, 2029
|
| Coupon: | 9% for first year; after that, (i) 5 times (ii) CMS spread, capped at 9% and floor of 1%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Aug. 27, 2014
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 27
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.55%
|
| Cusip: | 38147QPT7
|
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