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

By Jennifer Chiou

New York, Jan. 30 - Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due February 2019, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 2% for the first two years, stepping up to 2.5% in February 2016, to 3% in February 2017 and to 4% in February 2018. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par in February, May, August and November of each year beginning August 2014.

The notes (Cusip: 38147QHF6) are expected to settle in February.

Goldman Sachs & Co. is the underwriter.

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