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GS Finance to price leveraged notes linked to two iShares MSCI ETFs
By Angela McDaniels
Tacoma, Wash., July 12 – GS Finance Corp. plans to price 0% notes due Jan. 17, 2020 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If the return of each ETF is greater than or equal to zero, the payout at maturity will be par plus 2.5 times the return of the lesser-performing ETF.
If the return of either ETF is less than zero but the return of each ETF is greater than or equal to negative 30%, the payout will be par.
If the return of either ETF is less than negative 30%, investors will have one-to-one exposure to the decline of the lesser-performing ETF.
Goldman Sachs & Co. is the underwriter.
The notes will price July 14.
The Cusip number is 40054KG42.
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