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Goldman Sachs Bank plans variable-coupon CDs linked to 10 stocks
By Toni Weeks
San Diego, July 2 - Goldman Sachs Bank USA plans to price variable-coupon basket-linked certificates of deposit due 2019 linked to a basket of 10 stocks, according to a term sheet.
The underlying stocks are Altria Group, Inc., Amgen Inc., Apple Inc., Barrick Gold Corp., Bristol-Meyers Squibb Co., Intel Corp., McDonald's Corp., PepsiCo, Inc., Southern Co., Inc. and Verizon Communications Inc.
Interest is payable annually in an amount equal to the average of the stock returns, subject to a floor of 0.25%.
If a stock's return is greater than negative 5%, its performance will be fixed at 5.5% to 6.5%. Otherwise, its performance will be the greater of the stock return and negative 15%. The exact fixed percentage will be set at pricing.
The payout at maturity will be par.
The Cusip is 38143AWD3.
Goldman Sachs & Co. is the agent. Incapital LLC is the distributor.
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