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Goldman Sachs to price callable step-up notes with 3% initial rate
By Sarah Lizee
Olympia, Wash., Jan. 18 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due January 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 3% for the first four years, stepping up to 3.5% in January 2022, to 4% in January 2024 and to 5.5% in January 2025. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par quarterly beginning in January 2020.
Goldman Sachs & Co. LLC is the agent.
The notes (Cusip: 38150A5Q4) are expected to price and settle in January.
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