By William Gullotti
Buffalo, N.Y., June 7 – GS Finance Corp. priced $3.2 million of callable quarterly CMS spread-linked notes due May 14, 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 minus 25 basis points, subject to a maximum rate of 12% 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 after one year.
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: | $3,203,000
|
| Maturity: | May 14, 2036
|
| Coupon: | 10 times spread of 30-year CMS rate over five-year CMS rate minus 25 bps, subject to cap of 12% 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: | May 12
|
| Settlement date: | May 14
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 3.124%
|
| Cusip: | 40057HAA8
|
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