Published on 7/10/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.58 million leveraged buffered notes on basket
By Sarah Lizee
Olympia, Wash., July 10 – GS Finance Corp. priced $1.58 million of 0% leveraged buffered notes due July 7, 2020 linked to a basket of three indexes and two funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the iShares MSCI EAFE ETF with a 20% weight, the Euro Stoxx 50 index with a 15% weight, the iShares MSCI Emerging Markets ETF with a 15% weight and the Russell 2000 index with a 10% weight.
The payout at maturity will be par plus 1.2 times any basket gain capped at a maximum payout of $1,204 per $1,000 principal amount.
Investors will receive par if the basket falls by up to 15% and will be exposed to losses beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered notes
|
| Underlying assets: | S&P 500 (40% weight), iShares MSCI EAFE (20% weight), Euro Stoxx 50 (15% weight), iShares MSCI Emerging Markets (15% weight), Russell 2000 (10% weight)
|
| Amount: | $1,577,000
|
| Maturity: | July 7, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.2 times any basket gain, capped at $1,204 per $1,000 principal amount; par if the basket falls by up to 15%; exposure to losses beyond the 15% buffer
|
| Initial index levels: | 2,726.71 for S&P 500, $66.36 for iShares MSCI EAFE, 3,372.21 for Euro Stoxx 50, $42.90 for iShares MSCI Emerging Markets, 1,655.086 for Russell 2000
|
| Pricing date: | July 2
|
| Settlement date: | July 6
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.425%
|
| Cusip: | 40055QJH6
|
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