Published on 10/19/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $5.22 million three-year trigger gears tied to Stoxx 50
By Susanna Moon
Chicago, Oct. 19 – GS Finance Corp. priced $5.22 million of 0% trigger gears due Sept. 30, 2021 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the 5 times the gain up to a maximum settlement amount of $15.70 for each $10 principal amount.
If the index falls by up to the 70% downside threshold level, 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 asset: | Euro Stoxx 50 index
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| Amount: | $5,220,950
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| Maturity: | Sept. 30, 2021
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If index gains, par plus 5 times the return, capped at 57%; if index falls by up to 30%, par; otherwise, 1% loss per 1% decline
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| Initial level: | 3,433.15
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| Trigger level: | 2,403.205, 70% of initial level
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 28
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 36255U729
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