Goldman Sachs to price callable step-up notes with 2.75% start rate

By Sarah Lizee

Olympia, Wash., May 23 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due June 2020, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2.75% initially, stepping up to 3% in June 2019, to 4% in December 2019 and to 5% in March 2020. Interest will be payable quarterly.

The payout at maturity will be par.

The notes will be callable in whole at par quarterly beginning in December.

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

The notes (Cusip: 38150A7K5) are expected to price and settle in June.

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