Goldman plans seven-year autocallable CDs on GS Momentum Builder

By Marisa Wong

Morgantown, W.Va., Oct. 25 – Goldman Sachs Bank USA plans to price 0% autocallable certificates of deposit due Nov. 12, 2025 linked to the GS Momentum Builder Multi-Asset 5S ER index, according to a term sheet.

The CDs will be called at par plus an annual call return of 10% if the index closes at or above its call level on any annual review date. The call level will be 103.25% of the initial level for the Oct. 28, 2019 review date, stepping up by 325 basis points on each subsequent call review date up to 119.5% of the initial level on the Oct. 28, 2024 review date.

The payout at maturity will be par plus any index gain. If the index falls, the payout will be par.

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

The CDs will price Oct. 26.

The Cusip number is 38148RML4.

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