New Issue: Goldman Sachs sells $16 million callable step-up fixed-rate notes with 4% initial rate

By Wendy Van Sickle

Columbus, Ohio, Aug. 16 – Goldman Sachs Group, Inc. priced $16 million of callable step-up fixed-rate notes due Aug. 15, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% for the first six years, stepping up to 5% for the next three years and to 6% for the final year.

The payout at maturity will be par.

The notes will be callable at par quarterly starting Aug. 15, 2020.

Goldman Sachs & Co. is the agent.

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$16 million
Maturity:	Aug. 15, 2028
Coupon:	4% for the first six years, stepping up to 5% for next three years and to 6% for last year
Price:	Par
Payout at maturity:	Par
Call option:	Callable at par quarterly beginning Aug. 15, 2020
Pricing date:	Aug. 13, Aug. 14
Settlement date:	Aug. 15
Agent:	Goldman, Sachs & Co.
Fees:	1.588% for $11 million, 1.5% for $5 million
Cusip:	38150AB20

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