Goldman plans callable step-up notes due 2028 with 3.5% initial rate

By Susanna Moon

Chicago, Feb. 11 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due February 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3.5% for the first eight years, stepping up to 4.5% in February 2021, to 5.5% in February 2024, to 6.5% in February 2027 and to 7.5% in August 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 August.

Goldman Sachs & Co. is the underwriter.

The notes will settle in February.

The Cusip number is 38141GNR1.

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