Goldman Sachs to price callable step-up notes with 2% initial rate

By Marisa Wong

Madison, Wis., May 20 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due May 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 2% for the first two years, stepping up to 2.5% in May 2017 and to 4% in May 2019. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par quarterly.

Goldman Sachs & Co. is the agent.

The notes will settle in May.

The Cusip number is 38148T3T4.

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