Goldman plans 10-year callable step-up notes with 3% initial rate

By Susanna Moon

Chicago, April 21 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due April 2027, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% initially, stepping up to 3.5% in April 2022, to 4% on April 2025, to 5% on April 2026 and to 6% in October 2026. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on any quarterly call date after two years.

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

The notes will price in April.

The Cusip number is 38150A2U8.

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