Goldman Sachs Bank plans 0.5% CDs due 2023 tied to GS Momentum Builder

By Marisa Wong

Morgantown, W.Va., April 12 – Goldman Sachs Bank USA plans to price 0.5% certificates of deposit due April 26, 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 103.5% of its initial level, the payout at maturity will be par plus 110% to 120% of the amount the index return exceeds 3.5%. The exact participation rate will be set at pricing.

If the index return is 3.5% 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 April 26.

The Cusip number is 38148DJ88.

© 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.