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Goldman Sachs to price callable step-up notes with 4% initial rate
By Toni Weeks
San Luis Obispo, Calif., July 17 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due July 2034, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4% for the first eight years, stepping up to 4.25% in July 2022, to 5% in July 2027, to 6% in July 2032 and to 8% in July 2033. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par in each January, April, July and October beginning January 2015.
The notes (Cusip: 38147QDC7) are expected to settle in July.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
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