Published on 11/6/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.49 million capped gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – GS Finance Corp. priced $6.49 million of 0% trigger gears due Dec. 31, 2020 linked to an unequally-weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 3 times the basket return.
Investors will be fully exposed to any basket decline.
Goldman Sachs & Co. LLC 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 basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
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Amount: | $6,493,250
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Maturity: | Dec. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any basket gain; full exposure to loss
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Initial levels: | 3,622.09 for Stoxx, 7,306.26 for FTSE, 22,974.13 for Nikkei, 10,257.69 for Swiss, 6,745.418 for S&P, 26,786.76 for Hang Seng
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Pricing date: | Oct. 29
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Settlement date: | Oct. 31
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Underwriters: | Goldman Sachs & Co. LLC, UBS Financial Services Inc.
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Fees: | 2.1%
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Cusip: | 36258L585
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