New Issue: Goldman prices $58.25 million callable step-up notes with 4% initial rate

By Susanna Moon

Chicago, May 17 - Goldman Sachs Group, Inc. priced $58.25 million of callable step-up fixed-rate notes due May 18, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 4% for the first four years. It will step up to 5% on May 18, 2015, to 6% on May 18, 2018, to 7% on May 18, 2020 and to 8.5% on May 18, 2022. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par quarterly after six months.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$58.25 million
Maturity:	May 18, 2023
Coupon:	4% initially; 5% beginning May 18, 2015, 6% beginning May 18, 2018, 7% beginning May 18, 2020, 8.5% beginning May 18, 2022; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par quarterly beginning Nov. 18, 2011
Pricing date:	May 13
Settlement date:	May 18
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	2.753%
Cusip:	38143UUN9

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