Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5.03 million 10-year trigger gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, April 2 – GS Finance Corp. priced $5.03 million of 0% trigger gears due March 30, 2029 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a weight of 40%, the FTSE 100 index with a weight of 20%, the Nikkei Stock Average index with a weight of 20%, the Swiss Market index with a weight of 7.5%, the S&P/ASX 200 index with a weight of 7.5% and the Hang Seng index with a weight of 5%.
The payout at maturity will be par of $10 plus 4.25 times any basket gain.
If the basket falls but not below the 65% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
The guarantor is Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger gears
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng (5%)
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Amount: | $5,032,900
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Maturity: | March 30, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket gains, par plus 4.25 times return; if basket falls but not below 65% downside threshold level, par; otherwise, 1% loss per 1% decline
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Initial levels: | 3,322.04 for Stoxx, 7,194.19 for FTSE, 21,378.73 for Nikkei, 9,390.59 for Swiss Market and 6,135.971 for S&P/ASX and 28,728.25 for Hang Seng
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Pricing date: | March 27
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Settlement date: | March 29
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Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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Fees: | 5.45%
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Cusip: | 36257D311
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