New Issue: Goldman sells $25 million callable step-up notes with 4% initial rate

By Marisa Wong

Madison, Wis., Aug. 13 - Goldman Sachs Group, Inc. priced $25 million of callable step-up fixed-rate notes due Aug. 14, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% initially and steps up to 4.5% on Aug. 14, 2020, to 6% on Aug. 14, 2025, to 7% on Aug. 14, 2026 and to 8% on Aug. 14, 2027. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par in February, May, August and November beginning Feb. 14, 2014.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$25 million
Maturity:	Aug. 14, 2028
Coupon:	4% initially, steps up to 4.5% on Aug. 14, 2020, to 6% on Aug. 14, 2025, to 7% on Aug. 14, 2026 and to 8% on Aug. 14, 2027; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par each Feb. 14, May 14, Aug. 14 and Nov. 14 starting Feb. 14, 2014
Pricing date:	Aug. 9
Settlement date:	Aug. 14
Agents:	Goldman, Sachs & Co. and Incapital LLC
Fees:	3.55%
Cusip:	38147QLA2

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