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Goldman plans 10-year callable step-up notes with 2.25% initial rate
By Wendy Van Sickle
Columbus, Ohio, Sept. 9 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due September 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.25% for the first five years, stepping up to 3% in September 2021, to 3.5% in September 2023, to 4.5% in September 2024 and to 5.5% in September 2025. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole but not in part at par quarterly beginning in August 2018.
Goldman Sachs & Co. and Incapital LLC are the agents.
The notes will price and settle in September.
The Cusip number is 38148TNR6.
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