Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Goldman Sachs Bank USA > News item |
Goldman Sachs Bank to price variable-coupon CDs due 2022 on 10 stocks
By Devika Patel
Knoxville, Tenn., March 6 – Goldman Sachs Bank USA plans to price variable-coupon basket-linked certificates of deposit due March 30, 2022 linked to a basket of 10 stocks, according to a term sheet.
The underlying stocks are Altria Group, Inc., Apple, Inc., AT&T, Inc., McDonald’s Corp., Medtronic plc, Merck & Co., Inc., Pfizer, Inc., UnitedHealth Group Inc., Verizon Communications, Inc. and Wal-Mart Stores, Inc.
Interest is payable annually in an amount equal to the average of the stock performances, subject to a floor of 0.75%.
If a stock's return is flat or positive, its performance will be fixed at a maximum stock return expected to be 4.5% to 5%. The exact fixed percentage will be set at pricing. Otherwise, its performance will be the greater of the stock return and negative 15%.
The payout at maturity will be par.
Goldman Sachs & Co. is the agent. Incapital LLC is the distributor.
The notes (Cusip: 38148DSD7) are expected to price on March 27 and settle on March 30.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.