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Published on 2/28/2013 in the Prospect News Structured Products Daily.

New Issue: Goldman prices $42.04 million callable step-up fixed-rate notes with 3.5% initial rate

By Susanna Moon

Chicago, Feb. 28 - Goldman Sachs Group, Inc. priced $42.04 million of callable step-up fixed-rate notes due Feb. 22, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3.5% for the first eight years. After that, it will step up to 4.5% on Feb. 22, 2021, to 5.5% on Feb. 22, 2024, to 6.5% on Feb. 22, 2027 and to 7.5% on Aug. 22, 2027. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par any quarterly redemption date starting Aug. 22, 2013.

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

Issuer:Goldman Sachs Group, Inc.
Issue:Callable step-up fixed-rate notes
Amount:$42,039,000
Maturity:Feb. 22, 2028
Coupon:3.5% initially, steps up to 4.5% on Feb. 22, 2021, to 5.5% on Feb. 22, 2024, to 6.5% on Feb. 22, 2027 and to 7.5% on Aug. 22, 2027; payable semiannually
Price:Par
Payout at maturity:Par
Call option:At par on any quarterly redemption date beginning Aug. 22, 2013
Pricing date:Feb. 19 for $23 million, Feb. 25 for $19,039,000
Settlement date:Feb. 22 for $23 million, Feb. 28 for $19,039,000
Underwriters:Goldman, Sachs & Co. and Incapital LLC
Fees:2.924% for $23 million, 2.608% for $19,039,000
Cusip:38141GNR1

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