New Issue: Goldman prices $10 million callable step-up notes with 3% initial rate

By Marisa Wong

Madison, Wis., March 12 - Goldman Sachs Group, Inc. priced $10 million of callable step-up fixed-rate notes due March 13, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% initially and steps up to 4.25% on March 13, 2019 and to 6.25% on March 13, 2022. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par each March 13, June 13, Sept. 13 and Dec. 13 starting Sept. 13.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$10 million
Maturity:	March 13, 2024
Coupon:	3% for first five years, stepping up to 4.25% on March 13, 2019 and to 6.25% on March 13, 2022; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par each March 13, June 13, Sept. 13 and Dec. 13 starting Sept. 13
Pricing date:	March 10
Settlement date:	March 13
Underwriters:	Goldman, Sachs & Co. and Incapital LLC
Fees:	2.225%
Cusip:	38147QSP2

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