Goldman Sachs plans contingent coupon CDs tied to GS Momentum Builder

By Angela McDaniels

Tacoma, Wash., May 8 – Goldman Sachs Bank USA plans to price contingent coupon certificates of deposit due May 26, 2023 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.

Interest will be payable monthly and cannot be less than zero. The interest rate will be the quotient of the index return divided by the number of coupon payment dates that have occurred up to and including the current interest payment date. During the first year only, the coupon will be subject to a minimum rate of 0.04167% per month, or 0.5% per year.

The payout at maturity will be par.

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

The CDs are expected to price May 26 and settle May 29.

The Cusip number is 38148DAB0.

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