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Goldman plans callable step-up notes due 2034 with 4% initial rate
By Marisa Wong
Madison, Wis., Nov. 3 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due November 2034, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first 10 years, stepping up to 4.25% in November 2024, to 4.5% in November 2029, to 5% in November 2032 and to 6% in November 2033. 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 38147QM52.
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