Published on 3/11/2015 in the Prospect News Structured Products Daily.
New Issue: Goldman Sachs prices $3.93 million notes with averaging on basket of ETFs, indexes
By Toni Weeks
San Luis Obispo, Calif., March 11 – Goldman Sachs Group, Inc. priced $3.93 million of 0% basket-linked notes due March 12, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of equal weights of the S&P 500 index, the Russell 2000 index, the iShares MSCI EAFE exchange-traded fund and the iShares Emerging Markets ETF.
The payout at maturity will be par plus the greater of the basket return and 3%. If the final basket level is equal to or less than 103% of the initial basket level, investors will receive $1,030 per $1,000 principal amount of notes.
The final basket level will be the average of the closing basket levels on each of the semiannual averaging dates, which begin on Sept. 9, 2015 and end on March 9, 2021.
Goldman Sachs & Co. is the underwriter.
Issuer: | Goldman Sachs Group, Inc.
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Issue: | Basket-linked notes
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Underlying basket: | S&P 500 index, Russell 2000 index, iShares MSCI EAFE ETF and iShares Emerging Markets ETF, equally weighted
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Amount: | $3.93 million
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Maturity: | March 12, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of basket return and 3%; if final basket level is equal to or less than 103, investors will receive $1,030 per $1,000 of notes
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Initial basket level: | 100
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Final basket level: | Average of the closing basket levels on each of the semiannual averaging dates, which begin on Sept. 9, 2015 and end on March 9, 2021
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Initial component levels: | 2,079.43 for S&P 500, 1,223.587 for Russell 2000, $63.91 for iShares MSCI EAFE and $39.11 for iShares MSCI EM
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Pricing date: | March 9
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Settlement date: | March 12
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.625%
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Cusip: | 38147QVU7
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