New Issue: Goldman prices $23.5 million callable step-up notes with 5% initial rate

By Jennifer Chiou

New York, Sept. 14 - Goldman Sachs Group, Inc. priced $23.5 million of callable step-up fixed-rate notes due Sept. 21, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 5% for the first nine years, stepping up to 6% on Sept. 21, 2020, to 7% on Sept. 21, 2022 and to 8.5% on Sept. 21, 2024. Interest is payable semiannually.

The payout at maturity will be par.

Beginning on March 21, 2012, the notes will be callable at par on March 21, June 21, Sept. 21 and Dec. 21 of each year.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$23.5 million
Maturity:	Sept. 21, 2026
Coupon:	5% for the first nine years, stepping up to 6% on Sept. 21, 2020, to 7% on Sept. 21, 2022 and to 8.5% on Sept. 21, 2024; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on March 21, June 21, Sept. 21 and Dec. 21 of each year from March 21, 2012 onward
Pricing date:	Sept. 12
Settlement date:	Sept. 21
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	3.1%
Cusip:	38143UC74

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