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Goldman Sachs to price callable step-up notes with 2% initial rate
By Angela McDaniels
Tacoma, Wash., April 22 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due April 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% in years one through three, 3% in year four and 4% in year five. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning in October, the notes will be callable at par quarterly.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
The notes will price and settle in April.
The Cusip number is 38147Q3Z7.
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