Goldman plans callable step-up notes due 2018 with 1.25% initial rate

By Marisa Wong

Morgantown, W.Va., Sept. 8 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due September 2018, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 1.25% initially, stepping up to 2% in March 2017, to 3% in September 2017 and to 4% in March 2018. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on any quarterly date beginning in March 2016.

Goldman Sachs & Co. is the underwriter.

The notes will price and settle in September.

The Cusip number is 38148TDC0.

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