Published on 9/22/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10.38 million leveraged buffered notes linked to indexes
By Angela McDaniels
Tacoma, Wash., Sept. 22 – GS Finance Corp. priced $10.38 million of 0% leveraged buffered notes due Sept. 25, 2019 linked to a 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 consists of the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus two times the basket return, subject to a maximum settlement amount of $1,270 per $1,000 principal amount of notes. Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for every 1% that the basket may decline beyond 10%.
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: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $10.38 million
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Maturity: | Sept. 25, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 200% of basket return, subject to 27% maximum return; par if basket falls by up to 10%; 1.1111% loss for every 1% decline in basket beyond 10%
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Initial levels: | 3,525.55 for Euro Stoxx 50; 7,271.95 for FTSE 100; 1,667.92 for Topix; 9,095.65 for Swiss Market; and 5,709.091 for S&P/ASX 200
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Pricing date: | Sept. 20
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Settlement date: | Sept. 27
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.65%
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Cusip: | 40054LTV6
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