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Goldman plans seven-year callable step-up notes with 3% initial rate
By Susanna Moon
Chicago, Feb. 10 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due August 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first three years. The rate will step up to 4% in February 2015, to 5% in February 2016, to 7.75% in February 2017, to 8.75% in February 2018 and to 9.75% in February 2019. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning August.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
The notes will settle in February.
The Cusip number is 38143UR52.
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