Goldman plans 10-year callable step-up notes with 4.5% initial rate

By Susanna Moon

Chicago, Dec. 7 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due December 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4.5% for the first three years, stepping up to 5.5% in December 2014 and to 6.5% in December 2018. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par in March, June, September and December beginning in June 2012.

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

The notes will price and settle in December.

The Cusip number is 38143UJ93.

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