Goldman Sachs plans contingent coupon CDs tied to GS Momentum Builder

By Angela McDaniels

Tacoma, Wash., June 13 – Goldman Sachs Bank USA plans to price contingent coupon certificates of deposit due June 29, 2023 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.

Interest will be payable annually. The interest rate will be the index return divided by the number of coupon payment dates that have occurred up to and including the relevant coupon payment date, subject to a minimum interest rate of zero.

The payout at maturity will be par.

The index measures the extent to which the performance of the selected underlying assets (up to 14 exchange-traded funds and a money market position, which provide exposure to equities, fixed income, emerging markets, alternatives, commodities, inflation and cash equivalent asset classes) outperform the sum of Libor plus a daily index fee of 0.5% per year.

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

The CDs are expected to price June 27.

The Cusip number is 38148DKY9.

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