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Goldman Sachs plans 15-year callable quarterly CMS spread notes
By Susanna Moon
Chicago, Feb. 12 – Goldman Sachs Group, Inc. plans to price 15-year callable quarterly CMS spread-linked notes, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 8.5% for the first year. After that it will be 4.3 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate minus 25 basis points, up to a maximum rate of 10%. Interest will be 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 one year.
Goldman Sachs & Co. is the underwriter.
The Cusip number is 38147QUR5.
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