Goldman plans six-year callable step-up notes with 2.5% initial rate

New York, May 11 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due May 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.5% for the first three years, stepping up to 3% in May 2020 and to 4% in May 2022. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any quarterly call date after one year.

Goldman, Sachs & Co. is the agent. Incapital is the distributor.

The notes will price in May.

The Cusip number is 38150A3F0.

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