Goldman Sachs to price callable step-up notes with 2% initial rate

By Jennifer Chiou

New York, May 15 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due May 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 2% initially, stepping up to 4% in May 2016. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par in February, May, August and November of each year beginning in November 2014.

The notes (Cusip: 38147Q6L5) are expected to settle in May.

Goldman Sachs & Co. is the underwriter.

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