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Goldman Sachs to price callable step-up notes with 4% initial rate
By Marisa Wong
Madison, Wis., Nov. 27 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due December 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4% for the first eight years and will step up to 4.5% beginning in December 2021, to 5% in December 2025, to 6% in December 2026, to 7% in December 2027 and to 8% in December 2028. 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 June 2014.
The notes (Cusip: 38147QY67) will settle in December.
Goldman Sachs & Co. is the underwriter.
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