By Jennifer Chiou
New York, Jan. 22 - Goldman Sachs Group, Inc. priced $5.5 million of callable quarterly CMS spread-linked notes due Jan. 23, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 10% for the first year. After that, the rate will be (a) 5.5 times (b) the spread of the 30-year Constant Maturity Swap rate over the five-year Constant Maturity Swap rate, 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.
Beginning on July 23, 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: | $5.5 million
|
| Maturity: | Jan. 23, 2029
|
| Coupon: | 10% for first year; after that, 5.5 times spread of 30-year CMS rate over five-year CMS rate, 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 beginning July 23, 2014
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 3.577%
|
| Cusip: | 38147QDF0
|
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