New Issue: Goldman Sachs prices $17 million callable step-up notes due 2020 with 3% initial rate

By Toni Weeks

San Diego, July 25 - Goldman Sachs Group, Inc. priced $17 million of callable step-up fixed-rate notes due July 30, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% for the first four years. It will step up to 4% on July 30, 2016, to 5% on July 30, 2017, to 6.5% on July 30, 2018 and to 8% on July 30, 2019. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on each Jan. 30, April 30, July 30 and Oct. 30 beginning Jan. 30, 2013.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$17 million
Maturity:	July 30, 2020
Coupon:	3% initially,	stepping up to 4% on July 30, 2016, to 5% on July 30, 2017, to 6.5% on July 30, 2018 and to 8% on July 30, 2019; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on each Jan. 30, April 30, July 30 and Oct. 30 beginning Jan. 30, 2013
Pricing date:	July 23
Settlement date:	July 30
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	1.785%
Cusip:	38143U5A5

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