Published on 7/23/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.85 million digital notes on basket of Euro Stoxx Banks stocks
By Marisa Wong
Morgantown, W.Va., July 23 – GS Finance Corp. priced $2.85 million of 0% digital notes due Oct. 15, 2019 based on the performance of an unequally weighted basket of stocks of the 27 European companies included in the Euro Stoxx Banks index as of June 29, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket stocks are ABN AMRO Group NV, Credit Agricole SA, Banco Bilbao Vizcaya Argentaria, SA, BNP Paribas SA, CaixaBank SA, Deutsche Bank AG, Erste Group Bank AG, Societe Generale SA, ING Groep NV, Intesa Sanpaolo SpA, KBC Group NV, Banco Santander SA and UniCredit SpA, each with 5% weight; Commerzbank AG with a 4.45% weight; Banco de Sabadell SA with a 4.4% weight; Bank of Ireland Group plc with a 3.38% weight; Natixis SA with a 3.02% weight; Bankinter, SA with a 2.93% weight; Mediobanca SpA with a 2.75% weight; Bankia SA with a 2.09% weight; Banco BPM SpA and FinecoBank Banca Fineco SpA each with a 2.07% weight; AIB Group plc with a 1.99% weight; Raiffeisen Bank International AG with a 1.94% weight; Unione di Banche Italiane SpA with a 1.67% weight; Banco Comercial Portugues SA with a 1.13% weight; BPER Banca SpA with a 1.11% weight.
If the basket return is greater than or equal to negative 10%, the payout at maturity will be the threshold settlement amount or $1,108.50 per $1,000 principal amount.
If the basket return is less than negative 10%, investors will lose 1.1111% for every 1% basket decline beyond 10%.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Digital notes
|
| Underlying basket: | ABN AMRO Group NV (Symbol: ABN), Credit Agricole SA (Symbol: ACA), Banco Bilbao Vizcaya Argentaria, SA (Symbol: BBVA), BNP Paribas SA (Symbol: BNP), CaixaBank SA (Symbol: CABK), Deutsche Bank AG (Symbol: DBK), Erste Group Bank AG (Symbol: EBS), Societe Generale SA (Symbol: GLE), ING Groep NV (Symbol: INGA), Intesa Sanpaolo SpA (Symbol: ISP), KBC Group NV (Symbol: KBC), Banco Santander SA (Symbol: SAN) and UniCredit SpA (Symbol: UCG), each with 5% weight; Commerzbank AG (Symbol: CBK) with a 4.45% weight; Banco de Sabadell SA (Symbol: SAB) with a 4.4% weight; Bank of Ireland Group plc (Symbol: BIRG) with a 3.38% weight; Natixis SA (Symbol: KN) with a 3.02% weight; Bankinter, SA (Symbol: BKT) with a 2.93% weight; Mediobanca SpA (Symbol: MB) with a 2.75% weight; Bankia SA (Symbol: BKIA) with a 2.09% weight; Banco BPM SpA (Symbol: BAMI) and FinecoBank Banca Fineco SpA (Symbol: FBK) each with a 2.07% weight; AIB Group plc (Symbol: AIBG) with a 1.99% weight; Raiffeisen Bank International AG (Symbol: RBI) with a 1.94% weight; Unione di Banche Italiane SpA (Symbol: UBI) with a 1.67% weight; Banco Comercial Portugues SA (Symbol: BCP) with a 1.13% weight; BPER Banca SpA (Symbol: BPE) with a 1.11% weight
|
| Amount: | $2.85 million
|
| Maturity: | Oct. 15, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket return is greater than or equal to negative 10%, $1,108.50 per $1,000 principal amount; if the basket return is less than negative 10%, 1.1111% loss for every 1% basket decline beyond 10%
|
| Initial prices: | $21.99 for ABN AMRO, $11.56 for Credit Agricole, $6.212 for BBVA, $53.41 for BNP, $3,846 for Caixa, $9.74 for Deutsche, $35.21 for Erste, $36.59 for Societe Generale, $12.572 for ING, $2.5255 for Intesa, $66.1 for KBC, $4.75 for Santander, $14.59 for UniCredit, $8.461 for Commerzbank, $1.473 for Sabadell, $6.64 for Ireland, $6.092 for Natixis, $8.634 for Bankinter, $8.044 for Mediobanca, $3.274 for Bankia, $2.68 for BPM, $9.98 for FinecoBank, $4.816 for AIB, $26.7 for Raiffeisen, $3.348 for Unione di Banche, $0.2574 for Banco Comercial, $4.69 for BPER
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| Pricing date: | July 10
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| Settlement date: | July 17
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 0.9125%
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| Cusip: | 40055QLL4
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