Published on 5/5/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.7 million capped gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, May 5 – GS Finance Corp. priced $1.7 million of 0% capped gears due June 30, 2021 linked to an unequally weighted 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 a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average 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 3 times the basket return, subject to a maximum return of 20.05%.
Investors will be fully exposed to any basket decline.
Goldman Sachs & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Capped gears
|
| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
|
| Amount: | $1,700,610
|
| Maturity: | June 30, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 3 times any basket gain, subject to 20.05% maximum return; full exposure to loss
|
| Initial levels: | 2,932.06 for Stoxx, 5,958.5 for FTSE, 19,771.19 for Nikkei, 9,889.46 for Swiss, 5,313.096 for S&P/ASX, 24,575.96 for Hang Seng
|
| Pricing date: | April 28
|
| Settlement date: | April 30
|
| Underwriters: | Goldman Sachs & Co. LLC, UBS Financial Services Inc.
|
| Fees: | 2.1%
|
| Cusip: | 36259H864
|
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