Published on 8/27/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $34.72 million leveraged buffered notes on index basket
By Sarah Lizee
Olympia, Wash., Aug. 27 – GS Finance Corp. priced $34.72 million of 0% leveraged buffered notes due Sept. 10, 2020 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 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus double any basket gain, up to a maximum settlement amount of $1,280 for each $1,000 principal amount.
Investors will receive par if the basket falls by up to 20.05% and will lose 1.2508% for each 1% decline beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered notes
|
| Underlying basket: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (20% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
|
| Amount: | $34,719,000
|
| Maturity: | Sept. 10, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any basket gain, up to a maximum settlement amount of $1,280 for each $1,000 principal amount; par if the basket falls by up to 20.05%; 1.2508% loss for each 1% decline beyond the buffer
|
| Initial levels: | 3,419.26 for Stoxx, 1,698.22 for Topix, 7,563.22 for FTSE 100, 9,049.72 for Swiss Market and 6,244.370 for S&P/ASX
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 30
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.675%
|
| Cusip: | 40055QU34
|
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