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Goldman Sachs to price callable step-up notes with 1% initial rate
New York, Feb. 5 – Goldman Sachs Group, Inc. plans to price callable step-up fixed-rate notes due February 2018 with a 1% initial rate, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 1% for the first year, stepping up to 2% in February 2016 and to 3% in February 2017. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning August 2015.
Goldman Sachs & Co. is the agent.
The notes are expected to price and settle in February.
The Cusip number is 38147QTR7.
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