Published on 2/7/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $513,000 leveraged basket-linked notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – GS Finance Corp. priced $513,000 of 0% leveraged notes due Feb. 5, 2024 linked to a basket of three indexes and an exchange-traded 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 S&P 500 index with a 40% weight, the iShares MSCI Emerging Markets ETF with a 20% weight, the Euro Stoxx 50 index with a 20% weight and the Russell 2000 index with a 20% weight.
The payout at maturity will be par plus 1.55 times any basket gain.
Investors will receive par if the basket finishes flat or falls by up to 40% and will be fully exposed to losses if the basket falls by more than 40%.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Basket-linked notes
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Underlying assets: | S&P 500 index with a 40% weight, Euro Stoxx 50 index with a 20% weight, iShares MSCI Emerging Markets ETF with a 20% weight and Russell 2000 index with a 20% weight
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Amount: | $513,000
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Maturity: | Feb. 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.55 times any basket gain; par if the basket falls by up to 40% or is flat; full exposure to loss if basket falls by more than 40%
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Initial levels: | 2,704.1 for S&P 500, $43.10 for ETF, 3,159.43 for Stoxx, 1,499.419 for Russell
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Underwriter: | Goldman Sachs & Co.
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Fees: | 1.725%
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Cusip: | 40056ESB5
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