New Issue: Goldman prices $3 million callable step-up notes with 3.5% start rate

By Sarah Lizee

Olympia, Wash., May 25 – Goldman Sachs Group, Inc. priced $3 million of callable step-up fixed-rate notes due May 25, 2025, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3.5% initially, stepping up to 5% on Nov. 25, 2021 and to 6% on May 25, 2024. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable in whole at par each Feb. 25, May 25, Aug. 25 and Nov. 25 on or after May 25, 2019.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$3 million
Maturity:	May 25, 2025
Coupon:	3.5% initially, stepping up to 5% on Nov. 25, 2021 and to 6% on May 25, 2024; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	In whole at par each Feb. 25, May 25, Aug. 25 and Nov. 25 on or after May 25, 2019
Pricing date:	May 23
Settlement date:	May 25
Underwriters:	Goldman, Sachs & Co. and Incapital LLC
Fees:	1.383%
Cusip:	38150A6X8

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