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Goldman Sachs to price callable step-up notes with a 4% initial rate
By Devika Patel
Knoxville, Tenn., March 3 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due March 2036, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 4% for the first eight years, stepping up to 4.25% in March 2024, to 4.5% in March 2031, to 5.5% in March 2034 and to 7.5% in March 2035. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning in May 2016.
Goldman Sachs & Co. and Incapital LLC are the agents.
The notes (Cusip: 38148TM55) are expected to price and settle in March.
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