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Goldman to price callable step-up notes due 2020 with 3% initial rate
By Jennifer Chiou
New York, July 18 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due July 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The initial interest rate will be 3%. It will step up to 4% in July 2016, to 5% in July 2017, to 6.5% in July 2018 and to 8% in July 2019. Interest will be payable semiannually.
Beginning in January 2013, the notes will be callable at par on quarterly redemption dates.
The payout at maturity will be par.
The notes (Cusip: 38143U5A5) will price and settle in July.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
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