diff --git a/build.gradle b/build.gradle
index f56a70a46b5..52deaf5c8b0 100644
--- a/build.gradle
+++ b/build.gradle
@@ -18,7 +18,7 @@ subprojects {
     apply plugin: "net.ltgt.errorprone"
 
     group = "io.grpc"
-    version = "1.32.1-SNAPSHOT" // CURRENT_GRPC_VERSION
+    version = "1.32.1" // CURRENT_GRPC_VERSION
 
     repositories {
         maven { // The google mirror is less flaky than mavenCentral()
diff --git a/compiler/src/test/golden/TestDeprecatedService.java.txt b/compiler/src/test/golden/TestDeprecatedService.java.txt
index f909f8ba497..60531c7d4c2 100644
--- a/compiler/src/test/golden/TestDeprecatedService.java.txt
+++ b/compiler/src/test/golden/TestDeprecatedService.java.txt
@@ -21,7 +21,7 @@ import static io.grpc.stub.ServerCalls.asyncUnimplementedUnaryCall;
  * </pre>
  */
 @javax.annotation.Generated(
-    value = "by gRPC proto compiler (version 1.32.1-SNAPSHOT)",
+    value = "by gRPC proto compiler (version 1.32.1)",
     comments = "Source: grpc/testing/compiler/test.proto")
 @java.lang.Deprecated
 public final class TestDeprecatedServiceGrpc {
diff --git a/compiler/src/test/golden/TestService.java.txt b/compiler/src/test/golden/TestService.java.txt
index d9f37bc74f7..958064f5ccf 100644
--- a/compiler/src/test/golden/TestService.java.txt
+++ b/compiler/src/test/golden/TestService.java.txt
@@ -21,7 +21,7 @@ import static io.grpc.stub.ServerCalls.asyncUnimplementedUnaryCall;
  * </pre>
  */
 @javax.annotation.Generated(
-    value = "by gRPC proto compiler (version 1.32.1-SNAPSHOT)",
+    value = "by gRPC proto compiler (version 1.32.1)",
     comments = "Source: grpc/testing/compiler/test.proto")
 public final class TestServiceGrpc {
 
diff --git a/compiler/src/testLite/golden/TestDeprecatedService.java.txt b/compiler/src/testLite/golden/TestDeprecatedService.java.txt
index 65bb115decf..059ec619d79 100644
--- a/compiler/src/testLite/golden/TestDeprecatedService.java.txt
+++ b/compiler/src/testLite/golden/TestDeprecatedService.java.txt
@@ -21,7 +21,7 @@ import static io.grpc.stub.ServerCalls.asyncUnimplementedUnaryCall;
  * </pre>
  */
 @javax.annotation.Generated(
-    value = "by gRPC proto compiler (version 1.32.1-SNAPSHOT)",
+    value = "by gRPC proto compiler (version 1.32.1)",
     comments = "Source: grpc/testing/compiler/test.proto")
 @java.lang.Deprecated
 public final class TestDeprecatedServiceGrpc {
diff --git a/compiler/src/testLite/golden/TestService.java.txt b/compiler/src/testLite/golden/TestService.java.txt
index 7d1d77bbc90..e6f9d8f8824 100644
--- a/compiler/src/testLite/golden/TestService.java.txt
+++ b/compiler/src/testLite/golden/TestService.java.txt
@@ -21,7 +21,7 @@ import static io.grpc.stub.ServerCalls.asyncUnimplementedUnaryCall;
  * </pre>
  */
 @javax.annotation.Generated(
-    value = "by gRPC proto compiler (version 1.32.1-SNAPSHOT)",
+    value = "by gRPC proto compiler (version 1.32.1)",
     comments = "Source: grpc/testing/compiler/test.proto")
 public final class TestServiceGrpc {
 
diff --git a/core/src/main/java/io/grpc/internal/GrpcUtil.java b/core/src/main/java/io/grpc/internal/GrpcUtil.java
index 9310db2becd..ee21940aff4 100644
--- a/core/src/main/java/io/grpc/internal/GrpcUtil.java
+++ b/core/src/main/java/io/grpc/internal/GrpcUtil.java
@@ -197,7 +197,7 @@ public byte[] parseAsciiString(byte[] serialized) {
 
   public static final Splitter ACCEPT_ENCODING_SPLITTER = Splitter.on(',').trimResults();
 
-  private static final String IMPLEMENTATION_VERSION = "1.32.1-SNAPSHOT"; // CURRENT_GRPC_VERSION
+  private static final String IMPLEMENTATION_VERSION = "1.32.1"; // CURRENT_GRPC_VERSION
 
   /**
    * The default timeout in nanos for a keepalive ping request.
diff --git a/examples/android/clientcache/app/build.gradle b/examples/android/clientcache/app/build.gradle
index 237bef81176..38c83681f34 100644
--- a/examples/android/clientcache/app/build.gradle
+++ b/examples/android/clientcache/app/build.gradle
@@ -30,7 +30,7 @@ android {
 protobuf {
     protoc { artifact = 'com.google.protobuf:protoc:3.12.0' }
     plugins {
-        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1' // CURRENT_GRPC_VERSION
         }
     }
     generateProtoTasks {
@@ -50,12 +50,12 @@ dependencies {
     implementation 'com.android.support:appcompat-v7:27.0.2'
 
     // You need to build grpc-java to obtain these libraries below.
-    implementation 'io.grpc:grpc-okhttp:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-protobuf-lite:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-stub:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-okhttp:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-protobuf-lite:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-stub:1.32.1' // CURRENT_GRPC_VERSION
     implementation 'org.apache.tomcat:annotations-api:6.0.53'
 
     testImplementation 'junit:junit:4.12'
     testImplementation 'com.google.truth:truth:1.0.1'
-    testImplementation 'io.grpc:grpc-testing:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+    testImplementation 'io.grpc:grpc-testing:1.32.1' // CURRENT_GRPC_VERSION
 }
diff --git a/examples/android/helloworld/app/build.gradle b/examples/android/helloworld/app/build.gradle
index fd574908510..ff6eb2659c8 100644
--- a/examples/android/helloworld/app/build.gradle
+++ b/examples/android/helloworld/app/build.gradle
@@ -28,7 +28,7 @@ android {
 protobuf {
     protoc { artifact = 'com.google.protobuf:protoc:3.12.0' }
     plugins {
-        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1' // CURRENT_GRPC_VERSION
         }
     }
     generateProtoTasks {
@@ -48,8 +48,8 @@ dependencies {
     implementation 'com.android.support:appcompat-v7:27.0.2'
 
     // You need to build grpc-java to obtain these libraries below.
-    implementation 'io.grpc:grpc-okhttp:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-protobuf-lite:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-stub:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-okhttp:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-protobuf-lite:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-stub:1.32.1' // CURRENT_GRPC_VERSION
     implementation 'org.apache.tomcat:annotations-api:6.0.53'
 }
diff --git a/examples/android/routeguide/app/build.gradle b/examples/android/routeguide/app/build.gradle
index d5476a0e844..b7a005e0599 100644
--- a/examples/android/routeguide/app/build.gradle
+++ b/examples/android/routeguide/app/build.gradle
@@ -28,7 +28,7 @@ android {
 protobuf {
     protoc { artifact = 'com.google.protobuf:protoc:3.12.0' }
     plugins {
-        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1' // CURRENT_GRPC_VERSION
         }
     }
     generateProtoTasks {
@@ -48,8 +48,8 @@ dependencies {
     implementation 'com.android.support:appcompat-v7:27.0.2'
 
     // You need to build grpc-java to obtain these libraries below.
-    implementation 'io.grpc:grpc-okhttp:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-protobuf-lite:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-stub:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-okhttp:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-protobuf-lite:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-stub:1.32.1' // CURRENT_GRPC_VERSION
     implementation 'org.apache.tomcat:annotations-api:6.0.53'
 }
diff --git a/examples/android/strictmode/app/build.gradle b/examples/android/strictmode/app/build.gradle
index e93ebfd2463..0cfedbae970 100644
--- a/examples/android/strictmode/app/build.gradle
+++ b/examples/android/strictmode/app/build.gradle
@@ -29,7 +29,7 @@ android {
 protobuf {
     protoc { artifact = 'com.google.protobuf:protoc:3.12.0' }
     plugins {
-        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+        grpc { artifact = 'io.grpc:protoc-gen-grpc-java:1.32.1' // CURRENT_GRPC_VERSION
         }
     }
     generateProtoTasks {
@@ -49,8 +49,8 @@ dependencies {
     implementation 'com.android.support:appcompat-v7:28.0.0'
 
     // You need to build grpc-java to obtain these libraries below.
-    implementation 'io.grpc:grpc-okhttp:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-protobuf-lite:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
-    implementation 'io.grpc:grpc-stub:1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-okhttp:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-protobuf-lite:1.32.1' // CURRENT_GRPC_VERSION
+    implementation 'io.grpc:grpc-stub:1.32.1' // CURRENT_GRPC_VERSION
     implementation 'org.apache.tomcat:annotations-api:6.0.53'
 }
diff --git a/examples/build.gradle b/examples/build.gradle
index f47cc996115..a998073f0d6 100644
--- a/examples/build.gradle
+++ b/examples/build.gradle
@@ -22,7 +22,7 @@ targetCompatibility = 1.7
 
 // Feel free to delete the comment at the next line. It is just for safely
 // updating the version in our release process.
-def grpcVersion = '1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+def grpcVersion = '1.32.1' // CURRENT_GRPC_VERSION
 def protobufVersion = '3.12.0'
 def protocVersion = protobufVersion
 
diff --git a/examples/example-alts/build.gradle b/examples/example-alts/build.gradle
index d513f2bc627..202fb33a051 100644
--- a/examples/example-alts/build.gradle
+++ b/examples/example-alts/build.gradle
@@ -23,7 +23,7 @@ targetCompatibility = 1.7
 
 // Feel free to delete the comment at the next line. It is just for safely
 // updating the version in our release process.
-def grpcVersion = '1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+def grpcVersion = '1.32.1' // CURRENT_GRPC_VERSION
 def protocVersion = '3.12.0'
 
 dependencies {
diff --git a/examples/example-gauth/build.gradle b/examples/example-gauth/build.gradle
index e389d3c035e..71002c31f8a 100644
--- a/examples/example-gauth/build.gradle
+++ b/examples/example-gauth/build.gradle
@@ -23,7 +23,7 @@ targetCompatibility = 1.7
 
 // Feel free to delete the comment at the next line. It is just for safely
 // updating the version in our release process.
-def grpcVersion = '1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+def grpcVersion = '1.32.1' // CURRENT_GRPC_VERSION
 def protobufVersion = '3.12.0'
 def protocVersion = protobufVersion
 
diff --git a/examples/example-gauth/pom.xml b/examples/example-gauth/pom.xml
index 3017c607243..85716fa9352 100644
--- a/examples/example-gauth/pom.xml
+++ b/examples/example-gauth/pom.xml
@@ -6,13 +6,13 @@
   <packaging>jar</packaging>
   <!-- Feel free to delete the comment at the end of these lines. It is just
        for safely updating the version in our release process. -->
-  <version>1.32.1-SNAPSHOT</version><!-- CURRENT_GRPC_VERSION -->
+  <version>1.32.1</version><!-- CURRENT_GRPC_VERSION -->
   <name>example-gauth</name>
   <url>https://github.com/grpc/grpc-java</url>
 
   <properties>
     <project.build.sourceEncoding>UTF-8</project.build.sourceEncoding>
-    <grpc.version>1.32.1-SNAPSHOT</grpc.version><!-- CURRENT_GRPC_VERSION -->
+    <grpc.version>1.32.1</grpc.version><!-- CURRENT_GRPC_VERSION -->
     <protobuf.version>3.12.0</protobuf.version>
     <!-- required for jdk9 -->
     <maven.compiler.source>1.7</maven.compiler.source>
diff --git a/examples/example-hostname/build.gradle b/examples/example-hostname/build.gradle
index e09030367c5..ff8c9b58fb3 100644
--- a/examples/example-hostname/build.gradle
+++ b/examples/example-hostname/build.gradle
@@ -21,7 +21,7 @@ targetCompatibility = 1.7
 
 // Feel free to delete the comment at the next line. It is just for safely
 // updating the version in our release process.
-def grpcVersion = '1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+def grpcVersion = '1.32.1' // CURRENT_GRPC_VERSION
 def protobufVersion = '3.12.0'
 
 dependencies {
diff --git a/examples/example-hostname/pom.xml b/examples/example-hostname/pom.xml
index 1a8652ec014..b3175d7fd9c 100644
--- a/examples/example-hostname/pom.xml
+++ b/examples/example-hostname/pom.xml
@@ -6,13 +6,13 @@
   <packaging>jar</packaging>
   <!-- Feel free to delete the comment at the end of these lines. It is just
        for safely updating the version in our release process. -->
-  <version>1.32.1-SNAPSHOT</version><!-- CURRENT_GRPC_VERSION -->
+  <version>1.32.1</version><!-- CURRENT_GRPC_VERSION -->
   <name>example-hostname</name>
   <url>https://github.com/grpc/grpc-java</url>
 
   <properties>
     <project.build.sourceEncoding>UTF-8</project.build.sourceEncoding>
-    <grpc.version>1.32.1-SNAPSHOT</grpc.version><!-- CURRENT_GRPC_VERSION -->
+    <grpc.version>1.32.1</grpc.version><!-- CURRENT_GRPC_VERSION -->
     <protoc.version>3.12.0</protoc.version>
     <!-- required for jdk9 -->
     <maven.compiler.source>1.7</maven.compiler.source>
diff --git a/examples/example-jwt-auth/build.gradle b/examples/example-jwt-auth/build.gradle
index 0c569f7f5a8..c8974938e8d 100644
--- a/examples/example-jwt-auth/build.gradle
+++ b/examples/example-jwt-auth/build.gradle
@@ -22,7 +22,7 @@ targetCompatibility = 1.7
 
 // Feel free to delete the comment at the next line. It is just for safely
 // updating the version in our release process.
-def grpcVersion = '1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+def grpcVersion = '1.32.1' // CURRENT_GRPC_VERSION
 def protobufVersion = '3.12.0'
 def protocVersion = protobufVersion
 
diff --git a/examples/example-jwt-auth/pom.xml b/examples/example-jwt-auth/pom.xml
index 5b578fca4a6..7de7e8c3d83 100644
--- a/examples/example-jwt-auth/pom.xml
+++ b/examples/example-jwt-auth/pom.xml
@@ -7,13 +7,13 @@
   <packaging>jar</packaging>
   <!-- Feel free to delete the comment at the end of these lines. It is just
        for safely updating the version in our release process. -->
-  <version>1.32.1-SNAPSHOT</version><!-- CURRENT_GRPC_VERSION -->
+  <version>1.32.1</version><!-- CURRENT_GRPC_VERSION -->
   <name>example-jwt-auth</name>
   <url>https://github.com/grpc/grpc-java</url>
 
   <properties>
     <project.build.sourceEncoding>UTF-8</project.build.sourceEncoding>
-    <grpc.version>1.32.1-SNAPSHOT</grpc.version><!-- CURRENT_GRPC_VERSION -->
+    <grpc.version>1.32.1</grpc.version><!-- CURRENT_GRPC_VERSION -->
     <protobuf.version>3.12.0</protobuf.version>
     <protoc.version>3.12.0</protoc.version>
     <!-- required for jdk9 -->
diff --git a/examples/example-tls/build.gradle b/examples/example-tls/build.gradle
index 994154bd6ab..3966eb1021f 100644
--- a/examples/example-tls/build.gradle
+++ b/examples/example-tls/build.gradle
@@ -23,7 +23,7 @@ targetCompatibility = 1.7
 
 // Feel free to delete the comment at the next line. It is just for safely
 // updating the version in our release process.
-def grpcVersion = '1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+def grpcVersion = '1.32.1' // CURRENT_GRPC_VERSION
 def nettyTcNativeVersion = '2.0.31.Final'
 def protocVersion = '3.12.0'
 
diff --git a/examples/example-tls/pom.xml b/examples/example-tls/pom.xml
index 29bf6a37f66..129fa1c10d6 100644
--- a/examples/example-tls/pom.xml
+++ b/examples/example-tls/pom.xml
@@ -6,13 +6,13 @@
   <packaging>jar</packaging>
   <!-- Feel free to delete the comment at the end of these lines. It is just
        for safely updating the version in our release process. -->
-  <version>1.32.1-SNAPSHOT</version><!-- CURRENT_GRPC_VERSION -->
+  <version>1.32.1</version><!-- CURRENT_GRPC_VERSION -->
   <name>example-tls</name>
   <url>https://github.com/grpc/grpc-java</url>
 
   <properties>
     <project.build.sourceEncoding>UTF-8</project.build.sourceEncoding>
-    <grpc.version>1.32.1-SNAPSHOT</grpc.version><!-- CURRENT_GRPC_VERSION -->
+    <grpc.version>1.32.1</grpc.version><!-- CURRENT_GRPC_VERSION -->
     <protoc.version>3.12.0</protoc.version>
     <netty.tcnative.version>2.0.31.Final</netty.tcnative.version>
     <!-- required for jdk9 -->
diff --git a/examples/example-xds/build.gradle b/examples/example-xds/build.gradle
index fd9c43d0c78..894e4b39156 100644
--- a/examples/example-xds/build.gradle
+++ b/examples/example-xds/build.gradle
@@ -18,7 +18,7 @@ targetCompatibility = 1.7
 
 // Feel free to delete the comment at the next line. It is just for safely
 // updating the version in our release process.
-def grpcVersion = '1.32.1-SNAPSHOT' // CURRENT_GRPC_VERSION
+def grpcVersion = '1.32.1' // CURRENT_GRPC_VERSION
 
 dependencies {
     // This example's client is the same as the helloworld client. We depend on the helloworld
diff --git a/examples/pom.xml b/examples/pom.xml
index 3c7e09800c8..91643236356 100644
--- a/examples/pom.xml
+++ b/examples/pom.xml
@@ -6,13 +6,13 @@
   <packaging>jar</packaging>
   <!-- Feel free to delete the comment at the end of these lines. It is just
        for safely updating the version in our release process. -->
-  <version>1.32.1-SNAPSHOT</version><!-- CURRENT_GRPC_VERSION -->
+  <version>1.32.1</version><!-- CURRENT_GRPC_VERSION -->
   <name>examples</name>
   <url>https://github.com/grpc/grpc-java</url>
 
   <properties>
     <project.build.sourceEncoding>UTF-8</project.build.sourceEncoding>
-    <grpc.version>1.32.1-SNAPSHOT</grpc.version><!-- CURRENT_GRPC_VERSION -->
+    <grpc.version>1.32.1</grpc.version><!-- CURRENT_GRPC_VERSION -->
     <protobuf.version>3.12.0</protobuf.version>
     <protoc.version>3.12.0</protoc.version>
     <!-- required for jdk9 -->