New Issue: Goldman Sachs prices $20 million callable step-up fixed-rate notes with 5% initial rate

By Toni Weeks

San Diego, July 28 - Goldman Sachs Group, Inc. priced $20 million of callable step-up fixed-rate notes due July 29, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 5% for the first 10 years. It will step up to 6% on July 29, 2021, to 7% on July 29, 2023 and to 8% on July 29, 2025. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any interest payment date beginning on Jan. 29, 2012.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$20 million
Maturity:	July 29, 2026
Coupon:	5% for first 10 years, stepping up to 6% on July 29, 2021, to 7% on July 29, 2023 and to 8% on July 29, 2025; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on interest payment dates starting on Jan. 29, 2012
Pricing date:	July 26
Settlement date:	July 29
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	3.503 %
Cusip:	38143UWX5

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