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Goldman to price 10-year autocallable CDs on Motif National Defens
By Marisa Wong
Morgantown, W.Va., Oct. 25 – Goldman Sachs Bank USA plans to price 0% autocallable certificates of deposit due Nov. 13, 2028 linked to the Motif Capital National Defense 7 ER index, according to a term sheet.
The CDs will be called at par plus an annual call return of 7% if the index closes at or above its call level on any annual review date. The call level will be 102.5% of the initial level for the Oct. 28, 2019 review date, stepping up by 250 basis points on each subsequent call review date up to 122.5% of the initial level on the Oct. 28, 2027 review date.
The payout at maturity will be par plus any index gain. If the index falls, the payout will be par.
Goldman Sachs & Co. is the underwriter. Incapital LLC is distributor.
The CDs will price Oct. 26.
The Cusip number is 38148RNC3.
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