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Goldman Sachs to price callable step-up notes with 3.75% initial rate
By Angela McDaniels
Tacoma, Wash., June 7 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due June 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3.75% in years one through seven, 4.25% in years eight through 10, 5% in years 11 and 12, 6% in years 13 and 14 and 7.5% in year 15. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning in December 2013, the notes will be callable quarterly at par.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
The notes are expected to settle in June.
The Cusip number is 38147QCE4.
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