Goldman Sachs plans contingent coupon CDs tied to GS Momentum Builder

By Angela McDaniels

Tacoma, Wash., Feb. 9 – Goldman Sachs Bank USA plans to price contingent coupon certificates of deposit due Feb. 28, 2023 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.

The CDs pay a contingent annual coupon for the first six years of their seven-year term. If the index’s closing level on a coupon determination date is greater than or equal to the initial index level, the CDs will pay a coupon that year at a rate that is expected to be 1.75% to 2% and will be set at pricing. If the index closes below the initial level, no coupon will be paid that year.

If the index return is positive, the payout at maturity will be par plus the index return. If the index return is zero or negative, the payout will be par.

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

The CDs are expected to price Feb. 24.

The Cusip number is 38148DH31.

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