Published on 1/5/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.40 million leveraged buffered notes on ETF, index basket
By Marisa Wong
Morgantown, W.Va., Jan. 5 – GS Finance Corp. priced $2,395,000 of 0% leveraged buffered notes due Dec. 30, 2022 linked to an equally weighted basket of three indexes and an exchange-traded fund, 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 S&P 500 index, the Russell 2000 index, the iShares MSCI EAFE ETF and the Euro Stoxx 50 index.
If the basket return is positive, the payout at maturity will be par plus 1.855 times the basket gain. Investors will receive par if the basket falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
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 basket: | S&P 500 index, Russell 2000 index, iShares MSCI EAFE ETF and Euro Stoxx 50 index; equally weighted
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| Amount: | $2,395,000
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| Maturity: | Dec. 30, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 185.5% of basket return; par if basket falls by up to 5%; exposure to any declines beyond 5%
|
| Initial levels: | 2,682.62 for S&P 500, 1,543.937 for Russell, $70.22 for EAFE ETF and 3,550.17 for Euro Stoxx
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| Pricing date: | Dec. 27
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| Settlement date: | Dec. 29
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.9%
|
| Cusip: | 40055ABE6
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