Goldman plans CDs with quarterly measurement linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Aug. 14 – Goldman Sachs Bank USA plans to price 0% certificates of deposit due Aug. 30, 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 in each of the 20 quarters making up the life of the CDs, subject to a minimum return at maturity of 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 underwriter. Incapital LLC is distributor.

The CDs are expected to price Aug. 25.

The Cusip number is 38148DXG4.

© 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.