New Issue: Goldman sells $4 million callable step-up notes with 2.25% initial rate

By Marisa Wong

Morgantown, W.Va., Oct. 10 – Goldman Sachs Group, Inc. priced $4 million of callable step-up fixed-rate notes due Sept. 29, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 2.25% initially, stepping up to 2.75% on Sept. 29, 2020, to 3% on March 29, 2021, to 3.25% on Sept. 29, 2021 and to 3.75% from March 29, 2022. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par each March 29, June 29, Sept. 29 and Dec. 29 starting Sept. 29, 2018.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$4 million
Maturity:	Sept. 29, 2022
Coupon:	2.25% initially, stepping up to 2.75% on Sept. 29, 2020, to 3% on March 29, 2021, to 3.25% on Sept. 29, 2021 and to 3.75% from March 29, 2022; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par each March 29, June 29, Sept. 29 and Dec. 29 starting Sept. 29, 2018
Pricing date:	Sept. 27
Settlement date:	Sept. 29
Underwriters:	Goldman, Sachs & Co. and Incapital LLC
Fees:	1.06%
Cusip:	38150A4J1

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