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Goldman Sachs plans CDs linked to S&P 500, S&P SmallCap, S&P MidCap
By Angela McDaniels
Tacoma, Wash., Feb. 9 – Goldman Sachs Bank USA plans to price 0% certificates of deposit due March 1, 2023 linked to a basket of indexes that 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, according to a term sheet.
The payout at maturity will be par plus 0.5 times the basket return, subject to a minimum return that is expected to be 8% to 9% and will be set at pricing. The final level of each index will be the average of its closing levels on Feb. 24 of each year beginning Feb. 24, 2017.
Goldman Sachs & Co. is the agent. Incapital LLC is distributor.
The CDs are expected to price Feb. 24.
The Cusip number is 38148DGJ7.
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