Goldman Sachs to price callable step-up notes with a 3% initial rate

By Devika Patel

Knoxville, Tenn., Aug. 17 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due August 2030, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% for the first three years, stepping up to 4% in August 2018 and to 5% in August 2023.

The payout at maturity will be par.

The notes will be callable in whole but not in part at par quarterly beginning in August 2016.

The notes (Cusip: 38148TCR8) are expected to price and settle in August.

Goldman Sachs & Co. and Incapital LLC are the agents.

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