Goldman plans contingent coupon CDs linked to GS Momentum Builder

By Angela McDaniels

Tacoma, Wash., May 8 – Goldman Sachs Bank USA plans to price contingent coupon certificates of deposit due May 26, 2022 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.

The CDs will pay a contingent annual coupon for the first six years of their seven-year term. The coupon will be 2% if the index’s closing level on the determination date for that year is greater than or equal to the initial index level. Otherwise, no coupon will be paid that year.

The payout at maturity will be par plus the index return, subject to a minimum payout of par.

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

The CDs are expected to price May 26 and settle May 29.

The Cusip number is 38148DA95.

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