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Goldman plans 10-year callable step-up notes with 3% initial rate
By Marisa Wong
Madison, Wis., July 17 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due July 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first five years, stepping up to 4.5% in July 2020 and to 6.5% in July 2023. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning in July 2016.
Goldman Sachs & Co. is the agent.
The notes will settle in July.
The Cusip number is 38148TAP4.
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