New Issue: Goldman prices $18 million step-up notes with 3% start, 9.75% end rates

By Susanna Moon

Chicago, Feb. 22 - Goldman Sachs Group, Inc. priced $18 million of callable step-up fixed-rate notes due Aug. 23, 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% for the first three years. It will step up to 4% on Feb. 23, 2015, to 5% on Feb. 23, 2016, to 7.75% on Feb. 23, 2017, to 8.75% on Feb. 23, 2018 and to 9.75% on Feb. 23, 2019. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any quarterly redemption date after six months.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$18 million
Maturity:	Aug. 23, 2019
Coupon:	3% initially, stepping up to 4% on Feb. 23, 2015, to 5% on Feb. 23, 2016, to 7.75% on Feb. 23, 2017, to 8.75% on Feb. 23, 2018 and to 9.75% on Feb. 23, 2019; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on quarterly redemption date beginning on Aug. 23
Pricing date:	Feb. 17
Settlement date:	Feb. 23
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	1.822%
Cusip:	38143UR52

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