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Goldman plans five-year callable step-up notes with 2% initial rate
By Tali Rackner
Norfolk, Va., June 14 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due June 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2% for the first three years, stepping up to 3% in June 2019, to 3.5% in June 2020 and to 4.5% in December 2020. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on any quarterly redemption date after one year.
Goldman Sachs & Co. and Incapital LLC are the agents.
The notes are expected to price and settle in June.
The Cusip number is 38148TN21.
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