Published on 3/11/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $20.73 million leveraged buffered notes tied to basket
By Wendy Van Sickle
Columbus, Ohio, March 11 – GS Finance Corp. priced $20.73million of 0% leveraged buffered basket-linked notes due March 14, 2022 tied to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
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 notes are guaranteed by Goldman Sachs Group, Inc.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket return, up to a maximum of par plus 23.55%.
If the basket return is zero or negative but not less than negative 25%, the payout will be par.
Investors will lose 1.3333% for every 1% decline in the basket beyond 25%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying basket: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (19% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
|
| Amount: | $20,731,000
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| Maturity: | March 14, 2022
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| Price: | Par
|
| Payout at maturity: | If the basket return is positive, par plus 1.5 times the basket return, up to a maximum of par plus 23.55%; if basket falls by up to 25%, par; 1.3333% loss for every 1% decline in the basket beyond 25%
|
| Initial levels: | 2,959.07 for Euro Stoxx, 1,388.97 for Topix, 5,965.77for FTSE, 9,196.6 for Swiss Market, 5,760.556 for S&P/ASX
|
| Pricing date: | March 9
|
| Settlement date: | March 12
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.275%
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| Cusip: | 40056YMK7
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