Published on 10/15/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.44 million buffered PLUS tied to index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 15 – GS Finance Corp. priced $4.44 million of 0% buffered Performance Leveraged Upside Securities due April 1, 2021 linked to a basket of one index and one exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The underlying components are the Euro Stoxx 50 index with a 70% weight and the iShares MSCI Emerging Markets ETF with a 30% weight.
The payout at maturity will be par plus double any basket gain, up to a maximum payment of $14.55 per $10.00 PLUS.
Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Morgan Stanley & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Basket components: | Euro Stoxx 50 index (70% weight), iShares MSCI Emerging Markets ETF (30% weight)
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Amount: | $4,439,500
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Maturity: | April 1, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any basket gain, capped at $14.55 per PLUS; if basket falls by up to 10%, par; otherwise, 1% loss per 1% decline beyond 10%
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Initial levels: | 3,399.20 for index, $42.92 for ETF
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Pricing date: | Sept. 28
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Settlement date: | Oct. 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.175%
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Cusip: | 36256M148
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