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Goldman plans variable coupon CDs due 2023 on GS Momentum Builder
By Marisa Wong
Morgantown, W.Va., Sept. 24 – Goldman Sachs Bank USA plans to price variable-coupon certificates of deposit due Sept. 28, 2023 linked to the GS Momentum Builder Multi-Asset 5S ER index, according to a term sheet.
Interest will be payable annually. The interest rate will be the index return divided by the number of coupon payment dates that have occurred up to and including the relevant coupon payment date, subject to a minimum interest rate of 1.2% per year.
The payout at maturity will be par plus the final coupon.
Goldman Sachs & Co. is the underwriter. Incapital LLC is distributor.
The CDs will price Sept. 25.
The Cusip number is 38148RKH5.
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