Goldman Sachs Bank to price 0% CDs linked to GS Momentum Builder

By Angela McDaniels

Tacoma, Wash., Nov. 1 - Goldman Sachs Bank USA plans to price 0% index-linked certificates of deposit due Nov. 27, 2020 linked 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 in order for the index level to increase.

The payout at maturity will be par plus 150% to 160% of the index return, subject to a minimum payout of par. The exact participation rate will be set at pricing.

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

The CDs are expected to price Nov. 22 and settle Nov. 27.

The Cusip number is 38147JNW8.

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