Published on 12/12/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.94 million trigger gears on index, fund basket
By Sarah Lizee
Olympia, Wash., Dec. 12 – GS Finance Corp. priced $1.94 million of 0% trigger gears due Dec. 11, 2023 linked to a basket of indexes and a fund, 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 Hang Seng index with a 20% weight, the Nikkei 225 index with a 20% weight, the Euro Stoxx 50 index with a 20% weight, the WisdomTree India Earnings Fund with a 20% weight, the S&P/ASX 200 index with a 10% weight and the FTSE 100 index with a 10% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 2.81 times the basket return.
Investors will receive par if the basket declines by 30% or less and be fully exposed to the basket’s decline from its initial level if it declines by more than 30%.
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: | Hang Seng (20% weight), Nikkei 225 (20% weight), Euro Stoxx 50 (20% weight), WisdomTree India Earnings Fund (20% weight), S&P/ASX 200 (10% weight) and FTSE 100 (10% weight)
|
| Amount: | $1,935,000
|
| Maturity: | Dec. 11, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 2.81 times any basket gain; par if basket declines by 30% or less; full exposure to basket’s decline from its initial level if it declines by more than 30%
|
| Initial levels: | 26,063.760 for Hang Seng, 21,678.68 for Nikkei 225, 3,058.53 for Euro Stoxx 50, $23.27 for WisdomTree India Earnings Fund, 5,681.491 for S&P/ASX 200 and 6,778.11 for FTSE 100
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 12
|
| Underwriter: | Goldman Sachs & Co. with UBS Financial Services Inc. as selling agent
|
| Fees: | 0.3%
|
| Cusip: | 36256M783
|
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