New Issue: Goldman Sachs prices $15.75 million step-up notes with 4% initial rate

By Jennifer Chiou

New York, May 1 - Goldman Sachs Group, Inc. priced $15.75 million of callable step-up fixed-rate notes due April 30, 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% on April 30, 2022, to 5% on April 30, 2025 and to 6.5% on April 30, 2028. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par quarterly beginning on Oct. 30, 2014.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$15.75 million
Maturity:	April 30, 2029
Coupon:	4% initially, stepping up to 4.5% on April 30, 2022, to 5% on April 30, 2025 and to 6.5% on April 30, 2028; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par quarterly beginning Oct. 30, 2014
Pricing date:	April 28
Settlement date:	April 30
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	2.838%
Cusip:	38147Q3X2

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