Published on 12/13/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.75 million trigger gears linked to basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 13 – GS Finance Corp. priced $1.75 million of 0% trigger gears due Dec. 11, 2023 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng index (20% weight), the Nikkei 225 index (20% weight), the Euro Stoxx 50 index (20% weight), the WisdomTree India Earnings fund (20% weight), the S&P/ASX 200 index (10% weight) and the FTSE 100 index (10% weight).
If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 2.08 times the basket return.
If the final basket level is less than or equal to the initial basket level but greater than or equal to the downside threshold, 75% of the initial basket level, the payout will be par.
If the final basket level is less than the downside threshold, investors will lose 1% for every 1% that the basket declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. UBS Financial Services Inc. is acting as selling agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger gears
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Underlying basket: | Hang Seng index (20% weight), Nikkei 225 index (20% weight), Euro Stoxx 50 index (20% weight), WisdomTree India Earnings fund (20% weight), S&P/ASX 200 index (10% weight) and FTSE 100 index (10% weight)
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Amount: | $1,747,250
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Maturity: | Dec. 11, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final basket level is greater than initial basket level, par plus 2.08 times basket return; if final basket level is less than or equal to initial basket level but greater than or equal to 75% downside threshold, par; if final basket level is less than downside threshold, 1% loss for every 1% that basket declines from initial level
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Initial levels: | 26,498.37 for Hang Seng, 3,692.34 for Stoxx, 23,354.4 for Nikkei, $24.27 for WisdomTree India, 6,707.016 for S&P/ASX 200 and 7,239.66 for FTSE,
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Downside threshold: | 75% of initial basket level
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Pricing date: | Dec. 6
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Settlement date: | Dec. 11
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Underwriter: | Goldman Sachs & Co. LLC
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Selling agent: | UBS Financial Services Inc.
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Fees: | 0.3%
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Cusip: | 36259E630
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