Goldman Sachs Bank plans to price six-year CDs linked to S&P 500

By Marisa Wong

Madison, Wis., March 5 - Goldman Sachs Bank USA plans to price 0% certificates of deposit due March 30, 2020 linked to the S&P 500 index, according to a term sheet.

The payout at maturity will be par plus the sum of the index's returns in each of the 24 quarters making up the life of the CDs, subject to a minimum return at maturity of 6%.

The return will be measured from the end of the immediately preceding quarter to the end of the current quarter. The return in each quarter can be positive or negative and will be subject to a cap of 4.5% to 5%.

The exact terms will be set at pricing.

The CDs (Cusip: 38147JVA7) will price March 25 and settle March 28.

Goldman Sachs & Co. is the agent. Incapital LLC is the distributor.

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