Published on 8/7/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.58 million capped gears linked to index basket
By Sarah Lizee
Olympia, Wash., Aug. 7 – GS Finance Corp. priced $2.58 million of 0% capped trigger gears due July 31, 2023 linked to an equally-weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket contains the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus two times the basket return, capped at $12.785 per $10 note.
Investors will receive par if the basket declines by 25% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 25%.
Goldman Sachs & Co. is the underwriter. UBS Financial Services Inc. is the selling agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Capped trigger gears
|
Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
|
Amount: | $2,576,340
|
Maturity: | July 31, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 2 times any basket gain, capped $12.785 per $10 note; par if basket declines by 25% or less; full exposure to basket’s decline from its initial level if it declines by more than 25%
|
Initial levels: | 3,300.16 for Euro Stoxx, 6,131.46 for FTSE, 22,397.11 for Nikkei, 10,272.81 for Swiss Market, 6,006.385 for S&P/ASX and 24,883.14 for Hang Seng
|
Pricing date: | July 29
|
Settlement date: | July 31
|
Underwriter: | Goldman Sachs & Co. with UBS Financial Services Inc. as selling agent
|
Fees: | 2.75%
|
Cusip: | 36259J753
|
|
© 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.