Goldman plans 10-year callable step-up notes with 4% initial rate

By Susanna Moon

Chicago, Nov. 8 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due November 2028, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 4% for the first six years, stepping up to 5% on November 2024 and to 6% on November 2027. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable on any quarterly review date beginning November 2019.

Goldman Sachs & Co. is the underwriter.

The notes will price in November.

The Cusip number is 38150ABS3.

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