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Goldman Sachs to price callable step-up notes with 3.5% initial rate
By Toni Weeks
San Luis Obispo, Calif., March 18 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due March 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3.5% for the first eight years, stepping up to 3.75% in March 2023, to 4.5% in March 2027 and to 6% in March 2029. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning March 2016.
The notes (Cusip: 38147QXH4) are expected to price and settle in March.
Goldman Sachs & Co. and Incapital LLC are the agents.
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