New Issue: Goldman Sachs prices $3.5 million callable step-up notes due 2029

By Marisa Wong

Madison, Wis., Dec. 12 - Goldman Sachs Group, Inc. priced $3.5 million of callable step-up fixed-rate notes due Dec. 13, 2029, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 4% for the first eight years and will step up to 4.5% beginning on Dec. 13, 2021, to 5% on Dec. 13, 2025, to 6% on Dec. 13, 2026, to 7% on Dec. 13, 2027 and to 8% on Dec. 13, 2028. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any quarterly redemption date beginning on June 13, 2014.

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

Issuer:	Goldman Sachs Group, Inc.
Issue:	Callable step-up fixed-rate notes
Amount:	$3.5 million
Maturity:	Dec. 13, 2029
Coupon:	4% for first eight years, stepping up to 4.5% beginning on Dec. 13, 2021, to 5% on Dec. 13, 2025, to 6% on Dec. 13, 2026, to 7% on Dec. 13, 2027 and to 8% on Dec. 13, 2028; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any quarterly redemption date beginning on June 13, 2014
Pricing date:	Dec. 10
Settlement date:	Dec. 13
Underwriters:	Goldman Sachs & Co. and Incapital LLC
Fees:	3.407%
Cusip:	38147QY67

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