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Goldman Sachs Bank USA to price CDs linked to Dow with 50% to 58% cap
By Angela McDaniels
Tacoma, Wash., Aug. 14 – Goldman Sachs Bank USA plans to price 0% certificates of deposit due Feb. 28, 2025 linked to the Dow Jones industrial average, according to a term sheet.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum payout that is expected to be $1,500 to $1,580 per $1,000 face amount of CDs and will be set at pricing. If the index return is zero or negative, the payout will be par.
Goldman Sachs & Co. is the underwriter. Incapital LLC is distributor.
The CDs are expected to price Aug. 25.
The Cusip number is 38148DXA7.
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