New Issue: Goldman prices $34.49 million callable step-up notes with 3% initial rate

By Marisa Wong

Los Angeles, July 31 – Goldman Sachs Group, Inc. priced $34.49 million of callable step-up fixed-rate notes due July 31, 2029, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 3% initially, stepping up to 3.5% on July 31, 2024, to 4% on July 31, 2027 and to 5% on July 31, 2028. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par each Jan. 31, April 30, July 31 and Oct. 31 starting Jan. 31, 2021.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$34,489,000
Maturity:	July 31, 2029
Coupon:	3% initially, stepping up to 3.5% on July 31, 2024, to 4% on July 31, 2027 and to 5% on July 31, 2028; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par each Jan. 31, April 30, July 31 and Oct. 31 starting Jan. 31, 2021
Pricing date:	July 29
Settlement date:	July 31
Agents:	Goldman, Sachs & Co. and Incapital LLC
Fees:	1.445%
Cusip:	38150AD51

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