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Goldman plans seven-year callable step-up notes with 2% initial rate
By Susanna Moon
Chicago, Oct. 29 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due November 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% for the first three years, stepping up to 3% in November 2017, to 4.5% in November 2019 and to 7.5% in November 2020. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly call date beginning in November 2015.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
The notes will settle in November.
The Cusip number is 38147QLU8.
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