Published on 4/18/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $210,000 leveraged buffered notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, April 18 – GS Finance Corp. priced $210,000 leveraged buffered notes due April 19, 2018 linked to a basket of five indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% 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, subject to a maximum settlement of $1,304.50 per $1,000 principal amount.
If the basket falls by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond the buffer.
Goldman Sachs & Co. 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 indexes: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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| Amount: | $210,000
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| Maturity: | April 19, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any basket gain, up to maximum settlement amount of $1,304.50 for each $1,000 principal amount; par if basket falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
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| Initial levels: | 3,060.86 for Euro Stoxx 50; 6365.10 for FTSE 100; 1,371.35 for Topix: 8,021.00 for Swiss Market and 5,118.622 for S&P/ASX 200
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| Pricing date: | April 14
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| Settlement date: | April 21
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| Agent: | Goldman Sachs & Co.
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| Fees: | 1.65%
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| Cusip: | 40054KAV8
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