Goldman plans contingent coupon CDs tied to GS Momentum Builder

By Marisa Wong

Morgantown, W.Va., May 12 – Goldman Sachs Bank USA plans to price contingent coupon certificates of deposit due May 31, 2023 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.

The CDs pay a contingent annual coupon. If the index’s closing level on a coupon determination date is greater than the initial index level, the CDs will pay a coupon that year equal to $1,000 times the index return divided by the number of coupon payment dates that have occurred up to and including that coupon payment date. If the index closes at or below the initial level, no coupon will be paid that year.

The payout at maturity will be par plus the final coupon, if any.

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

The CDs are expected to price May 25.

The Cusip number is 38148DKC7.

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