Published on 3/5/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.6 million buffer gears tied to index basket
By Wendy Van Sickle
Columbus, Ohio, March 5 –GS Finance Corp. priced $3.6 million of 0% buffer gears due March 2, 2027 linked to a 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 includes the Euro Stoxx 50 index with a 40% 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 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 2.4275 times the basket return. Investors will receive par if the basket declines by 25% or less and will lose 1% for every 1% that the basket declines beyond 25%.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffer gears
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| Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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| Amount: | $3.6 milion
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| Maturity: | March 2, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket return is greater than zero, par plus 2.4275 times basket return; par if basket declines by 25% or less; 1% loss for every 1% that basket declines beyond 25%
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| Initial levels: | 3,572.51 for Stoxx, 7,017.88 for FTSE, 22,605.41 for Nikkei, 10,478.51 for Swiss Market, 6,866.604 for S&P/ASX and 26,893.23 for Hang Seng
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
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| Fees: | 3.9%
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| Cusip: | 36259H518
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