New Issue: Goldman Sachs prices $2 million callable step-up notes with 3.5% initial rate

By Marisa Wong

Madison, Wis., April 1 – Goldman Sachs Group, Inc. priced $2 million of callable step-up fixed-rate notes due March 31, 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% on March 31, 2023, to 4.5% on March 31, 2027 and to 6% on March 31, 2029. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par quarterly beginning March 31, 2016.

Goldman, Sachs & Co. is the underwriter.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$2 million
Maturity:	March 31, 2030
Coupon:	3.5% for first eight years, stepping up to 3.75% on March 31, 2023, to 4.5% on March 31, 2027 and to 6% on March 31, 2029; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par quarterly beginning March 31, 2016
Pricing date:	March 26
Settlement date:	March 31
Underwriters:	Goldman, Sachs & Co.
Fees:	2.75%
Cusip:	38147QXH4

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