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Goldman Sachs to price callable step-up notes with 3.25% initial rate
By Toni Weeks
San Diego, Nov. 8 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due November 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.25% for the first five years, stepping up to 4% in November 2017, to 5.25% in November 2022, to 6.25% in November 2024 and to 7.5% in November 2026. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par in May, August, November and February beginning in May 2013.
The notes (Cusip: 38141GHW7) are expected to settle in November.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
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