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Goldman Sachs Bank plans 0.15%-0.25% CDs tied to GS Momentum Builder
By Toni Weeks
San Diego, Oct. 2 - Goldman Sachs Bank USA plans to price 0.15% to 0.25% index-linked certificates of deposit due 2019 tied to the GS Momentum Builder Multi-Asset 2 ER index, according to a term sheet.
The index measures the extent to which the performance of the up to 18 exchange-traded funds included in the index outperform Libor. The index is rebalanced monthly and sometimes daily. The ETFs must outperform Libor for the index level to increase.
Interest is payable in October of each year. The exact rate will be set at pricing.
The payout at maturity will be par plus the index return, subject to a minimum payout of par.
The notes (Cusip: 38143AJ97) are expected to price Oct. 25 and settle Oct. 30.
Goldman Sachs & Co. is the agent. Incapital LLC is the distributor.
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