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Goldman Sachs plans variable coupon CDs linked to GS Momentum Builder
By Marisa Wong
Morgantown, W.Va., Sept. 14 – Goldman Sachs Bank USA plans to price variable coupon certificates of deposit due Sept. 29, 2022 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.
Interest will be payable annually. The interest rate will be the index return divided by the number of coupon payment dates that have occurred up to and including the relevant coupon payment date, subject to a minimum interest rate that is expected to be 0.5% to 0.75% per year and will be set at pricing.
The payout at maturity will be par plus the final coupon.
Goldman Sachs & Co. is the agent. Incapital LLC is distributor.
The CDs are expected to price Sept. 25 and settle Sept. 30.
The Cusip number is 38148DD27.
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