New Issue: Goldman Sachs prices $2.5 million callable step-up notes with 3% initial rate

By Marisa Wong

Morgantown, W.Va., May 8 – Goldman Sachs Group, Inc. priced $2.5 million of callable step-up fixed-rate notes due April 28, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% initially, 3.5% from April 28, 2022, 4% from April 28, 2025,, 5% from April 28, 2026 and 6% from Oct. 28, 2026.

The payout at maturity will be par.

The notes will be callable at par each Jan. 28, April 28, July 28 and Oct. 28 starting April 28, 2019.

Goldman, Sachs & Co. and Incapital LLC are the underwriters.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$2.5 million
Maturity:	April 28, 2027
Coupon:	3% initially; 3.5% from April 28, 2022; 4% from April 28, 2025,; 5% from April 28, 2026; 6% from Oct. 28, 2026
Price:	Par
Payout at maturity:	Par
Call option:	At par each Jan. 28, April 28, July 28 and Oct. 28 starting April 28, 2019
Pricing date:	April 26
Settlement date:	April 28
Underwriters:	Goldman, Sachs & Co. and Incapital LLC
Fees:	2.13%
Cusip:	38150A2U8

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