Published on 8/7/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.84 million leveraged buffered notes on ETF basket
By Sarah Lizee
Olympia, Wash., Aug. 7 – GS Finance Corp. priced $6.84 million of 0% leveraged buffered notes due Aug. 5, 2022 linked to a basket of ETFs, 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 SPDR S&P 500 ETF trust with a 58.8% weight, the iShares MSCI EAFE ETF with a 21% weight, the iShares MSCI Emerging Markets ETF with a 9% weight, the SPDR S&P MidCap 400 ETF trust with a 5.6% weight and the iShares Russell 2000 ETF with a 5.6% weight.
The payout at maturity will be par plus 1.5 times any basket gain, capped at $1,349 per $1,000 of notes.
Investors will receive par if the basket declines by 20% or less and will lose 1.25% for every 1% that it declines beyond 20%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered notes
|
| Underlying basket: | SPDR S&P 500 ETF trust with a 58.8% weight, iShares MSCI EAFE ETF with a 21% weight, iShares MSCI Emerging Markets ETF with a 9% weight, SPDR S&P MidCap 400 ETF trust with a 5.6% weight and iShares Russell 2000 ETF with a 5.6% weight
|
| Amount: | $6.84 million
|
| Maturity: | Aug. 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any basket gain, capped at $1,349 per $1,000 of notes; par if basket falls by up to 20%; 1.25% loss for every 1% drop beyond 20%
|
| Initial levels: | $292.62 for S&P ETF, $63.70 for EAFE ETF, $40.55 for EM ETF, $348.74 for MidCap ETF, $152.58 for Russell ETF
|
| Pricing date: | Aug. 2
|
| Settlement date: | Aug. 7
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.175%
|
| Cusip: | 40056FWS0
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
