Keychain Unknown Error =-2,147,414,007 on Creating New Certificate

I am getting "Unknown Error = -2,147,414,007" on creating a certificate through the Keychain app.

Steps to Recreate:

1. Open the Keychain Access application. Select Certificate Assistant > Create a Certificate in the application menu (Keychain Access). Only Modified Parameters are listed. The remaining options are kept with default values.Name of Certificate = gdbcert
   Identity Type = Self Signed Root
   Certificate Type = Code Signing
2. Check the Let me override defaults checkbox, and click Continue.
3. On the next page, leave Security Number to be 1, and set Validity Period to 3650.
4. Then click Continue once again, and keep doing so to skip the next six screens until you see the one entitled Specify a Location For The Certificate.
5. For the only property, Keychain, choose System from the drop-down list. Lastly, click Create, type in your password, if prompted, and click Done.