Goldman plans callable step-up notes due 2028 with 4% initial rate

By Sarah Lizee

Olympia, Wash., Aug. 24 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due September 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 4% initially, stepping up to 5% in September 2025 and to 6% in September 2027. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable in whole at par on any quarterly review date beginning in September 2020.

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

The notes will price and settle in September.

The Cusip number is 38150ABG9.

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