Published on 6/23/2020 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $6.29 million leveraged basket-linked notes on index, ETFs
By Kiku Steinfeld
Chicago, June 23 – GS Finance Corp. priced $6.29 million of 0% leveraged notes due June 16, 2022 linked to a basket of ETFs and an index, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the iShares MSCI EAFE ETF with a 30% weight, the iShares Russell Mid-Cap ETF with a 20% weight and the iShares Russell 2000 ETF with a 10% weight.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket return, subject to a maximum settlement amount of $1,320 for each $1,000 of notes.
Investors will receive par if the basket falls by up to 25% and will be exposed to any losses if the basket falls by more than 25%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged notes
|
| Basket components: | S&P 500 index (40% weight), iShares MSCI EAFE ETF (30% weight), iShares Russell Mid-Cap ETF (20% weight), iShares Russell 2000 ETF (10% weight)
|
| Amount: | $6,288,000
|
| Maturity: | June 16, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 1.5 times the basket return, subject to maximum settlement amount of $1,320 for each $1,000 of note; par if basket falls by up to 25%; full exposure to losses if basket falls by more than 25%
|
| Initial index levels: | 3,041.31 for S&P 500; $61.30 for MSCI EAFE ETF; $53.03 for Russell Mid-Cap; $138.27 for Russell 2000 ETF
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.65%
|
| Cusip: | 40057CA43
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
