Goldman Sachs plans to price 15-year 4.25% callable step-up notes

By Marisa Wong

Chicago, Oct. 20 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due Oct. 29, 2025, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 4.25% for the first six years. After that, the rate will be 5% from Oct. 29, 2016 to but excluding Oct. 29, 2021 and then 7% until maturity. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning Oct. 29, 2011.

The notes (Cusip 38143UNR8) will price on Oct. 27 and settle on Oct. 29.

Goldman, Sachs & Co. and Incapital LLC are the underwriters.

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