Goldman plans three-year callable step-up notes with 1.3% initial rate

By Susanna Moon

Chicago, June 16 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due June 2019, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 1.3% initially, stepping up to 2% in December 2017, to 3% in June 2018 and to 4% in December 2018. Interest is payable semiannually.

The payout at maturity will be par.

The notes are callable at par on any semiannual redemption date.

Goldman Sachs & Co. is the agent.

The notes are expected to price and settle in June.

The Cusip number is 38148TN70.

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