Published on 11/1/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.86 million trigger gears due 2023 on index basket
By Sarah Lizee
Olympia, Wash., Nov. 1 – GS Finance Corp. priced $4.86 million of 0% trigger gears due Oct. 31, 2023 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 consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index with an initial weight of 20%, the Nikkei 225 index with an initial weight of 20%, the Swiss Market index with an initial weight of 7.5%, the S&P/ASX 200 index with an initial weight of 7.5% and the Hang Seng index with an initial weight of 5%.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 2.4265 times the basket return.
Investors will receive par if the basket declines by 50% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 50%.
Goldman Sachs & Co. is the underwriter. UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger gears
|
| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei 225 index (20% weight), Swiss Market index (7.5% weight), the S&P/ASX 200 index (7.5% weight) and the Hang Seng index (5% weight)
|
| Amount: | $4,860,360
|
| Maturity: | Oct. 31, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 2.4265 times any basket gain; par if basket declines by 50% or less; full exposure to basket’s decline from its initial level if it declines by more than 50%
|
| Initial levels: | 3,154.93 for Stoxx, 7,026.32 for FTSE, 21,149.80 for Nikkei, 8,759.62 for Swiss, 5,728.155 for S&P/ASX, 24,812.040 for Hang Seng
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Underwriter: | Goldman Sachs & Co. with UBS Financial Services Inc. as selling agent
|
| Fees: | 3.85%
|
| Cusip: | 36256M205
|
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