Goldman Sachs to price callable step-up notes with 4% initial rate

By Jennifer Chiou

New York, Nov. 14 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due November 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% for the first six years and will step up to 4.375% beginning in November 2019, to 5% in November 2024, to 6% in November 2026 and to 8% in November 2027. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any quarterly redemption date beginning in May 2014.

The notes (Cusip: 38147QU20) will settle in November.

Goldman Sachs & Co. is the underwriter.

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