Goldman to price callable five-year step-up notes with 2% initial rate

By Toni Weeks

San Luis Obispo, Calif., Feb. 28 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due March 2019, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2% for the first three years, stepping up to 3.3% in March 2017. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par quarterly beginning in September 2014.

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

The notes will settle in March.

The Cusip number is 38147QTK2.

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