Goldman Sachs plans to price step-up notes with 2.3% initial rate

By Angela McDaniels

Tacoma, Wash., July 22 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due August 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.3% in year one, 2.4% in year two and 2.5% in year three. Interest will be payable semiannually.

The payout at maturity will be par.

Beginning in August 2020, the notes will be callable at par on any quarterly redemption date.

Goldman Sachs & Co. LLC is the underwriter.

The notes will price in July and settle in August.

The Cusip number is 38150AD85.

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