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Goldman Sachs to price 0.6% CDs due 2023 linked to GS Momentum Builder
By Wendy Van Sickle
Columbus, Ohio, March 10 – Goldman Sachs Bank USA plans to price 0.6% certificates of deposit due March 28, 2023 linked to the GS Momentum Builder Multi-Asset 5 ER index, according to a term sheet.
Interest is payable monthly.
If the index finishes above 104.2% of its initial level, the payout at maturity will be par plus 110% to 125% of the amount the index return is greater than 4.2%. The exact participation rate will be set at pricing. If the index return is 4.2% or less, the payout will be par.
The index measures the extent to which the performance of the selected underlying assets (up to 14 exchange-traded funds and a money market position, which provide exposure to equities, fixed income, emerging markets, alternatives, commodities, inflation and cash equivalent asset classes) outperform the sum of Libor plus a daily index fee of 0.5% per year.
Goldman Sachs & Co. is the agent. Incapital LLC is distributor.
The CDs are expected to price March 28.
The Cusip number is 38148DHS6.
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