By Kiku Steinfeld
Chicago, May 21 – GS Finance Corp. priced $8.12 million of callable quarterly CMS spread-linked notes due April 30, 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 10 times the spread of the 30-year Constant Maturity Swap rate over the five-year Constant Maturity Swap rate, subject to a maximum rate of 10% per year. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
After one year, the notes will be callable at par on any interest payment date.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable quarterly CMS spread notes
|
| Underlying rates: | 30-year Constant Maturity Swap and five-year CMS rate
|
| Amount: | $8,118,000
|
| Maturity: | April 30, 2036
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| Coupon: | 10 times spread of 30-year CMS rate over five-year CMS rate, subject to cap of 10% per year and floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.487%
|
| Cusip: | 40057H3D0
|
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