Published on 6/12/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.5 million leveraged buffered notes on index basket
By Marisa Wong
Morgantown, W.Va., June 12 – GS Finance Corp. priced $3.5 million of 0% leveraged buffered notes due March 24, 2023 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 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 3 times any basket gain.
Investors will receive par if the basket declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Goldman Sachs & Co. LLC is the agent.
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 index with a 36% weight, Topix with a 27% weight, FTSE 100 index with a 19% weight, Swiss Market index with a 10% weight and S&P/ASX 200 index with an 8% weight
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Amount: | $3.5 million
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Maturity: | March 24, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any basket gain; par if basket falls by up to 15%; 1.1765% loss for every 1% drop beyond 15%
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Initial levels: | 3,386.51 for Euro Stoxx, 1,550.30 for Topix, 7,328.92 for FTSE, 9,624.16 for Swiss Market and 6,500.141 for S&P/ASX
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Pricing date: | May 21
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Settlement date: | May 29
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.51%
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Cusip: | 40056FJ97
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