Goldman plans callable step-up notes due 2021 with 3% initial rate

By Susanna Moon

Chicago, Aug. 22 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due September 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3% for the first three years, stepping up to 4% in September 2015, to 5% in September 2017, to 6% in September 2019 and to 7% in September 2020. Interest is payable monthly.

The payout at maturity will be par.

The notes will be callable at par on any monthly call date beginning in March 2013.

Goldman, Sachs & Co. and Incapital LLC are the agents.

The notes will settle in September.

The Cusip number is 38143U6N6.

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