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Goldman Sachs Bank plans six-year CDs linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 13 – Goldman Sachs Bank USA plans to price 0% certificates of deposit due June 29, 2022 linked to the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus the greater of the sum of the index’s quarterly returns, expected to be capped at 3.5% to 4% per quarter, or the minimum return of 4%. The exact maximum quarterly return will be set at pricing.
Goldman Sachs & Co. is the underwriter. Incapital LLC is the distributor.
The CDs will price on June 24 and settle on June 29.
The Cusip number is 38148DKJ2.
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