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Goldman Sachs to price CDs with 5% maximum coupon on Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., Oct. 23 – Goldman Sachs Bank USA plans to price equity-linked certificates of deposit due Oct. 30, 2025 linked to the Euro Stoxx 50 index, according to a term sheet.
The CDs will pay an annual coupon based on the level of the index, subject to a maximum coupon of 5% and a minimum coupon of 1%.
If the index closes at or above its initial level on an annual coupon determination date, the CDs will pay a coupon that year equal to the maximum rate of 5%. Otherwise, the CDs will pay a coupon that year equal to the minimum rate of 1%.
The payout at maturity will be par plus the final coupon.
Goldman Sachs & Co. is the underwriter. Incapital LLC is distributor.
The CDs will price on Oct. 25.
The Cusip number is 38148RMQ3.
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