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Goldman plans callable step-up notes due 2022 with 3% initial rate
By Susanna Moon
Chicago, Aug. 29 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due March 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first five years, stepping up to 4.25% in September 2018, to 5.5% in in September 2019, to 6.5% in September 2020, to 7.5% in March 2021 and to 8% in September 2021. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly redemption date.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
The notes will settle in September.
The Cusip is 38147QSA5.
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