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Goldman Sachs Bank to price CDs due 2020 linked to basket of indexes
By Toni Weeks
San Diego, Jan. 7 - Goldman Sachs Bank USA plans to price 0% equity index-linked certificates of deposit due Feb. 4, 2020 linked to a basket of indexes, according to a term sheet.
The equally weighted basket components include the Euro Stoxx 50 index, the MSCI Taiwan index, the S&P/TSX 60 index and the Dow Jones industrial average.
The payout at maturity will be par plus the greater of the basket return and the minimum return, which is expected to be 0.5% to 1.5% and will be set at pricing.
The initial basket level will be 100. The final basket level will be the average of the basket's closing levels on each of the quarterly averaging dates. The basket closing level on each quarterly averaging date will equal the sum of the weighted component returns of the indexes as measured from the trade date.
The CDs are expected to price Jan. 28 and settle Jan. 31.
Goldman Sachs & Co. is the underwriter. Incapital LLC is the distributor.
The Cusip number is 38143A3W3.
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