By Marisa Wong
Madison, Wis., March 18 - Goldman Sachs Group, Inc. priced $1.5 million of callable quarterly CMS spread-linked notes due March 21, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be (i) 6 times (ii) the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate minus 25 basis points, subject to a maximum rate of 10%. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Beginning Sept. 21, 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: | $1.5 million
|
| Maturity: | March 21, 2029
|
| Coupon: | 6 times CMS spread minus 25 bps, capped at 10% with floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Sept. 21, 2014
|
| Pricing date: | March 14
|
| Settlement date: | March 21
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 4.4%
|
| Cusip: | 38147QTX4
|
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