Goldman plans callable step-up notes due 2022 with 3% initial rate

By Sarah Lizee

Olympia, Wash., Aug. 15 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due February 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3% initially and step up to 4% in February 2020. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable in whole at par on any quarterly review date beginning August 2019.

Goldman Sachs & Co. is the underwriter.

The notes will price and settle in August.

The Cusip number is 38150ABA2.

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