By Susanna Moon
Chicago, June 26 – Goldman Sachs Group, Inc. priced $2 million of callable quarterly CMS spread-linked notes due June 26, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 9% for the first year. After that, it will accrue at 5 times the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate, up to a maximum interest rate of 10%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after six months.
Goldman Sachs & Co. is the underwriter.
| Issuer: | Goldman Sachs Group, Inc.
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| Issue: | Callable quarterly CMS spread notes
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| Underlying rates: | 30-year and five-year CMS rates
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| Amount: | $2 million
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| Maturity: | June 26, 2029
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| Coupon: | 9% for first year; after that, 5 times spread of 30-year CMS rate over five-year CMS rate, capped at 10%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any interest payment date beginning Dec. 26, 2014
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| Pricing dates: | June 23
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| Settlement date: | June 26
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 4.3%
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| Cusip: | 38147QA89
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