Goldman Sachs to price callable step-up notes with 4% initial rate

By Toni Weeks

San Luis Obispo, Calif., March 27 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due April 2029, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 4% for the first eight years, stepping up to 4.5% in April 2022, to 5% in April 2025 and to 6% in April 2028. Interest will be payable semiannually.

The payout at maturity will be par.

Beginning in October 2014, the notes will be callable at par quarterly.

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

The notes will settle in April.

The Cusip number is 38147Q2B1.

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