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Goldman Sachs plans CDs with averaging feature linked to three indexes
By Angela McDaniels
Tacoma, Wash., Feb. 6 – Goldman Sachs Bank USA plans to price 0% equity index-linked certificates of deposit due March 1, 2022 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 final basket level will be the average of its level on each of the semiannual averaging dates, which are expected to be the 24th day of each February and August beginning Aug. 24, 2015.
The payout at maturity will be par plus the greater of (a) 50% of the basket return and (b) the minimum return, which is expected to be 8.5% to 9.5% and will be set at pricing.
Goldman Sachs & Co. is the underwriter. Incapital LLC is distributor.
The CDs are expected to price Feb. 24 and settle Feb. 27.
The Cusip number is 38148D5L4.
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