Goldman plans to price contingent coupon CDs on GS Momentum Builder

By Angela McDaniels

Tacoma, Wash., July 13 – Goldman Sachs Bank USA plans to price contingent coupon certificates of deposit due July 28, 2022 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.

Interest will be payable in July of each year from 2016 to 2021. If the index return is positive or zero, a coupon will be paid at a rate that is expected to be 2.25% to 2.5%, with the exact rate to be set at pricing. If the index return is negative, no coupon will be paid that year.

If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return. If the final index level is less than or equal to the initial index level, the payout will be par.

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

The CDs are expected to price July 28 and settle July 31.

The Cusip number is 38148DBJ2.

© 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.