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Goldman Sachs to price callable step-up notes with 2.5% initial rate
By Toni Weeks
San Diego, June 12 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due June 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 2.5% for the first six months. It will step up to 3.5% in December 2013, to 4.5% in December 2014, to 5.5% in December 2015 and to 6.5% in December 2016. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning September 2012.
The notes (Cusip: 38143UY96) will settle in June.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
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