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Goldman Sachs plans callable step-up notes with 3% initial rate
By Toni Weeks
San Diego, Sept. 7 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due September 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3% for the first two years, stepping up to 4% in September 2013, to 5% in September 2015, to 6% in September 2016 and to 7% in September 2017. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par in March, June, September and December after six months.
The notes (Cusip: 38143UD65) are expected to price and settle in September.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
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