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Goldman plans 0.85%-1.1% CDs tied to S&P 500, S&P SmallCap, S&P MidCap
By Angela McDaniels
Tacoma, Wash., July 13 – Goldman Sachs Bank USA plans to price certificates of deposit due July 28, 2022 linked to a basket of indexes, according to a term sheet.
The interest rate is expected to be 0.85% to 1.1% per year and will be set at pricing. Interest will be payable annually.
The basket consists of the S&P 500 index with a 50% weight, the S&P SmallCap 600 index with a 25% weight and the S&P MidCap 400 index with a 25% weight.
The payout at maturity will be par plus 0.5 times the basket return, subject to a minimum payout of par. The final level of each index will be the average of its closing levels on Jan. 25 and July 25 of each year beginning Jan. 25, 2016.
Goldman Sachs & Co. is the underwriter. Incapital LLC is distributor.
The notes will price July 28 and settle July 31.
The Cusip number is 38148DBP8.
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