Published on 11/13/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.79 million leveraged buffered notes tied to basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – GS Finance Corp. priced $1.79 million of 0% leveraged buffered notes due Nov. 12, 2020 linked to a basket of 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 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 3 times any basket gain up to a maximum payout of $1,393 per $1,000 principal amount.
Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying assets: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (20% weight), Swiss Market index (9% weight), S&P/ASX 200 index (8% weight)
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Amount: | $1,789,000
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Maturity: | Nov. 12, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any basket gain up to a maximum payout of $1,393 per $1,000 principal amount; par if the basket falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
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Initial levels: | 3,246.16 for Stoxx, 1,652.43 for Topix, 7,117.28 for FTSE, 9,050.53 for Swiss and 5,896.868 for S&P/ASX
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Pricing date: | Nov. 7
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Settlement date: | Nov. 15
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.65%
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Cusip: | 40056ED62
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