New Issue: Goldman prices $7 million callable step-up notes with 3.25% start rate

By Sarah Lizee

Olympia, Wash., April 30 – Goldman Sachs Group, Inc. priced $7 million of callable step-up fixed-rate notes due April 30, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3.25% initially, stepping up to 3.75% on April 30, 2021, to 4.25% on April 30, 2022 and to 5% on Oct. 30, 2022. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable in whole at par quarterly beginning in April 30, 2019.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$7 million
Maturity:	April 30, 2023
Coupon:	3.25% initially, stepping up to 3.75% on April 30, 2021, to 4.25% on April 30, 2022 and to 5% on Oct. 30, 2022; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par in whole quarterly beginning April 30, 2019
Pricing date:	April 26
Settlement date:	April 30
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	1.121%
Cusip:	38150A6P5

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