Goldman plans CDs due 2022 tied to quarterly performance of Russell

By Marisa Wong

Morgantown, W.Va., Jan. 10 – Goldman Sachs Bank USA plans to price 0% certificates of deposit due Jan. 28, 2022 linked to the Russell 2000 index, according to a term sheet.

The payout at maturity will be par plus the sum of the index’s returns for each of the quarters making up the life of the CDs, subject to a minimum return at maturity of at least 5%.

The index’s return will be measured from the end of the immediately preceding quarter to the end of the current quarter. The return in each quarter can be positive or negative and will be subject to a cap that is expected to be 3% to 3.5% and will be set at pricing.

Goldman Sachs & Co. is the agent. Incapital LLC is the distributor.

The CDs will price on Jan. 25.

The Cusip number is 38148DQN7.

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