Announcement Regarding GS Momentum Builder Multi-Asset 5S ER Index
NEW YORK, October 29, 2021 - The Index Committee for the GS Momentum Builder Multi-Asset 5S ER Index is providing notice of two amendments to the index methodology as part of the committee’s continued review of the use of 3-month USD LIBOR as the index’s notional interest rate. The effective date for these changes is expected to be January 28, 2022.
First, the index methodology will be amended to allow for the committee to replace the notional interest rate, in its sole discretion, upon at least five index business days’ notice if the index sponsor determines, in its sole discretion, that it is not practicable or commercially reasonable for the notional interest rate to continue to be included in the index for reasons including, but not limited to, requirements, guidance or recommendations by relevant regulators, relevant industry associations or the index sponsor or changes in industry practice.
Second, the index methodology will be amended to more closely align the fallbacks for the current notional interest rate with the Alternative Reference Rates Committee (ARRC) recommendations regarding more robust fallback language for new issuances of LIBOR floating rate notes.
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