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Goldman Sachs Bank plans CDs due 2020 on Momentum Builder Multi-Asset
By Toni Weeks
San Luis Obispo, Calif., Sept. 5 – Goldman Sachs Bank USA plans to price 0% certificates of deposit due March 27, 2020 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.
The index measures the extent to which the performance of up to 15 underlying assets included in the index outperform the sum of Libor plus a daily index fee of 50 basis points. The index rebalances monthly, and sometimes daily, from among 14 ETFs and one money market position that track equities, fixed-income, emerging markets, alternatives, commodities, inflation and cash equivalent asset classes.
The payout at maturity will be par plus 1.25 times the index return. If the index return is zero or negative, investors will receive par.
The CDs (Cusip: 38147J4C3) will price Sept. 24 and settle Sept. 29.
Goldman Sachs & Co. is the agent. Incapital LLC is the distributor.
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