Goldman to price contingent coupon CDs tied to GS Momentum Builder

By Angela McDaniels

Tacoma, Wash., Aug. 12 – Goldman Sachs Bank USA plans to price contingent coupon certificates of deposit due Aug. 31, 2020 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.

Interest will be payable in August of each year from 2016 to 2019. If the index return is positive or zero, the notes will pay a 0.5% coupon. If the index return is negative, no coupon will be paid that year.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return. If the final index level is less than or equal to the initial index level, the payout will be par.

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

The CDs are expected to price Aug. 26 and settle Aug. 31.

The Cusip number is 38148DCA0.

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