| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers R > Headlines for Russell 2000 index > News item |
Goldman plans range accrual CDs linked to six-month Libor, Russell
By Marisa Wong
Morgantown, W.Va., Sept. 14 – Goldman Sachs Bank USA plans to price callable quarterly range accrual certificates of deposit due Sept. 23, 2030 linked to six-month Libor and the Russell 2000 index, according to a term sheet.
Interest will equal the applicable rate multiplied by the proportion of days on which the index closes at or above 75% of its initial level and six-month Libor is between 0% and 6%. Interest will be payable quarterly.
The applicable rate will be 4% for the first 28 quarters, 5% for the next 20 quarters and 6% for the final 12 quarters.
The payout at maturity will be par.
Beginning Sept. 23, 2016, the CDs will be callable at par on any interest payment date.
Goldman Sachs & Co. is the agent. Incapital LLC is distributor.
The CDs are expected to price Sept. 18 and settle Sept. 23.
The Cusip number is 38148DDG6.
© 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.