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Goldman Sachs plans 20-year callable step-up notes with 4% start rate
By Susanna Moon
Chicago, Dec. 8 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due December 2035, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% for the first 10 years, stepping up to 4.5% in December 2025, to 5% in December 2029, to 6% in December 2033 and to 8% in December 2034. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly date beginning in December 2016.
Goldman Sachs & Co. and Incapital LLC are the agents.
The notes will price and settle in December.
The Cusip number is 38148TK40.
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