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Goldman Sachs Bank plans CDs due 2022 linked to index basket
By Marisa Wong
Madison, Wis., April 9 – Goldman Sachs Bank USA plans to price 0% equity index-linked certificates of deposit due May 3, 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 S&P SmallCap 600 index with a 25% weight and the S&P MidCap 400 index with a 25% weight.
The payout at maturity will be par plus 50% to 55% of the basket return, subject to a minimum return of 9.25%. The exact participation rate will be set at pricing.
The basket return will be averaged semiannually on the 28th of each April and October beginning on Oct. 28, 2015. The final basket level will be equal to the average of the basket closing levels on each of the averaging dates.
There is a survivor put.
Goldman Sachs & Co. is the underwriter. Incapital LLC is the distributor.
The CDs will price on April 28 and settle on April 30.
The Cusip number is 38148D6Y5.
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