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

By Jennifer Chiou

New York, Aug. 19 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due August 2034, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is initially 4%, stepping up to 4.25% in August 2022, to 5% in August 2030, to 6% in August 2032 and to 8% in August 2033. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par in each February, May, August and November beginning in February 2015.

The notes (Cusip: 38147QEZ5) will price and settle in August.

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

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