Published on 5/10/2018 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $2 million trigger gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, May 10 – GS Finance Corp. priced $2 million of 0% trigger gears due May 8, 2025 linked 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 20% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with an 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus 3.065 times any basket gain.
Investors will receive par if the basket falls by up to 25% and will be fully exposed to any losses if it finishes below its 50% downside threshold.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| 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 indexes: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight) and S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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| Amount: | $2 million
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| Maturity: | May 8, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 3.065 times any basket gain; par if basket falls by up to 50%; 1% loss per 1% decline if basket finishes below 50% of initial level
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| Initial levels: | 3,550.59 for Stoxx, 7,567.14 for FTSE, 22,472.78 for Nikkei, 8,903.83 for Swiss Market, 6,062.893 for S&P/ASX and 29,926.5 for Hang Seng
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| Downside threshold: | 50% of initial level
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| Pricing date: | May 4
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| Settlement date: | May 9
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| Underwriters: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
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| Fees: | 3.875%
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| Cusip: | 36254G808
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