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Goldman Sachs to price callable step-up notes with 4% initial rate
By Marisa Wong
Madison, Wis., March 11 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due March 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 4% in years one through eight, 4.5% in years nine through 12, 5.25% in year 13, 6.25% in year 14 and 7.25% in year 15. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning in September 2014, the notes will be callable at par quarterly.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
The notes will settle in March.
The Cusip number is 38147QVP8.
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