Goldman Sachs Bank plans CDs due 2021 linked to basket of indexes

By Jennifer Chiou

New York, Oct. 7 – Goldman Sachs Bank USA plans to price 0% equity index-linked certificates of deposit due May 3, 2021 linked to a basket of indexes, according to a term sheet.

The basket includes the S&P 500 index with a 50% weight, the Russell 2000 index with a 25% weight and the S&P MidCap 400 index with a 25% weight.

The payout at maturity will be par plus 50% of the basket return, subject to a minimum return of 8.5% to 9.5% that will be set at pricing.

The basket return will be averaged semiannually on the 28th of each April and October beginning on Oct. 28, 2015. The final basket level will be equal to the average of the basket closing levels on each of the averaging dates.

There is a survivor put.

The CDs (Cusip: 38148D2P8) will price on Oct. 28 and settle on Oct. 31.

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

© 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.