Goldman Sachs plans callable step-up notes with 3.25% initial rate

By Susanna Moon

Chicago, May 2 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due May 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3.25% for the first four years. After that, it will be 4.5% until May 2017, 7.75% until May 2018 and then 9% thereafter until maturity. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any quarterly redemption date beginning six months after settlement.

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

The notes will settle in May.

The Cusip number is 38143UUL3.

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