Goldman Sachs Bank plans CDs due 2021 linked to basket of indexes

By Toni Weeks

San Luis Obispo, Calif., Sept. 5 – Goldman Sachs Bank USA plans to price 0% equity index-linked certificates of deposit due March 30, 2021 linked to a basket of indexes, according to a term sheet.

The basket includes the S&P 500 index with a 50% weight, the Russell 2000 index with a 25% weight and the S&P MidCap 400 index with a 25% weight.

The payout at maturity will be par plus 50% of the basket return, subject to a minimum return of 8% to 9% that will be set at pricing.

The basket return will be averaged semiannually on the 25th of each March and September beginning Sept. 25, 2015. The final basket level will be equal to the average of the basket closing levels on each of the averaging dates.

There is a survivor put.

The CDs (Cusip: 38147J4G4) will price Sept. 25 and settle Sept. 30.

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

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