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Goldman Sachs plans notes linked to MSCI Spain 25/50 index companies
By Angela McDaniels
Tacoma, Wash., Feb. 13 – Goldman Sachs Group, Inc. plans to price 0% notes linked to the 23 ordinary shares included in the MSCI Spain 25/50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The tenor of the notes is expected to be 13 to 15 months. The exact maturity date will be set at pricing.
The payout at maturity will be par plus the basket return. The notes are not principal protected, so investors will receive less than par if the basket return is negative.
The basket includes the following shares with a 5% weight each: Amadeus IT Holding SA, Banco Bilbao Vizcaya Argenta, Banco De Sabadell SA, Banco Santander SA, Iberdrola SA, Inditex, International Consolidated Airlines Group SA, Red Electrica Corporacion SA, Repsol SA and Telefonica SA. It also includes Abertis Infraestructuras SA (4.76% weight), ACS Actividades de Construccion y Servicios SA (4.15% weight), Banco Popular Espanol (4.31% weight), Bankia SA (3.78% weight), Bankinter, SA (2.16% weight), Caixabank SA (4.94% weight), Distribuidora Internacional de Alimentacion SA (3.12% weight), Enagas SA (4.15% weight), Ferrovial SA (4.95% weight), Gas Natural SDG SA (4.77% weight), Grifols SA (4.04% weight), Mapfre SA (2.70% weight) and Zardoya Otis SA (2.17% weight).
The basket was selected on Jan. 28 and includes all of the constituents of the index at that time. To determine the initial weight of each stock, the calculation agent began with the weights of the 23 companies in the index as of Jan. 28 and then reweighted each of the stocks so that no stock was weighted in excess of 5% of the basket. For each stock having an initial weight of more than 5%, the excess weight was distributed to each of the other non-capped stocks pro rata according to their initial weights.
Goldman Sachs & Co. is the underwriter.
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