Goldman plans 20-year callable step-up notes with 3.75% initial rate

By Susanna Moon

Chicago, May 20 – Goldman Sachs Group, Inc. plans to price callable step-up fixed rate notes due May 2036, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.75% for the first eight years, stepping up to 4% in May 2024, to 4.25% in May 2029, to 4.5% in May 2031, to 5% in May 2033, to 6% in May 2034 and to 7.5% in May 2035. Interest is payable semiannually.

The payout at maturity will be par.

The notes are callable at par on any quarterly redemption date after two years.

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

The notes will price and settle in May.

The Cusip number is 38148TMW6.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.