Published on 1/30/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.5 million leveraged buffered notes on index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – GS Finance Corp. priced $1.5 million of 0% leveraged buffered notes due Jan. 7, 2021 linked to a basket of two indexes and an ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the Euro Stoxx 50 index with a 60% weight, the Nikkei 225 index with a 20% weight and the iShares MSCI Emerging Markets ETF with a 20% weight.
If the basket return is positive, the payout at maturity will be par plus 1.87 times the basket gain. Investors will receive par if the basket falls by up to 40% and will be fully exposed to the decline if the basket falls by more than 40%.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered notes
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| Underlying basket: | Euro Stoxx 50 index (60% weight), Nikkei index (20% weight), iShares MSCI Emerging Markets ETF (20% weight)
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| Amount: | $1,497,000
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| Maturity: | July 28, 2022
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 187% of basket return; par if basket falls by up to 40%; full exposure to decline if basket falls by more than 40%
|
| Initial levels: | 3,630.15 for Stoxx, 23,699.49 for Nikkei, $51.37 for ETF
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 30
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.95%
|
| Cusip: | 40055AEY9
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