Goldman Sachs has launched its first four structured certificates of deposit onto the US market. SRP has accessed the pricing supplements for three offerings but no investment dates have been disclosed.
The first CD is a four-year capital-protected structure linked to the performance of the Dow Jones Industrial Average Index and offers the greater of a 2% return or the sum of monthly registered values, subject to a cap on each monthly observation value of between 1.5% and 2%.
The bank has also filed a seven-year CD with exposure to an equally weighted basket of ten stocks of the DJ Industrial Average Index with low average performance correlation, based on technology and food sectors. The performance of each underlying within the basket is measured on an annual basis, with each underlying performance floored at -20% and capped at between 7% and 8%.
The third product, a five-year CD linked to the S&P500, replicates the payoff of the other two with a minimum 2.5% return and a cap on each monthly value of between 2.5% and 3%.
A spokesman for Goldman Sachs declined to comment on the launches.
These products will be available shortly in Recent Additions (US).