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Goldman Sachs to price step-up notes due 2027 with 4% initial rate
By Angela McDaniels
Tacoma, Wash., July 18 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due July 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 4% in years one through six, 5% in years seven through 10, 6% in years 11 through 13 and 7% in years 14 and 15. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning in July 2013, the notes will be callable at par on quarterly redemption dates.
The notes will price and settle in July.
Goldman Sachs & Co. and Incapital LLC are the underwriters.
The Cusip number is 38143U4Z1.
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