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GS Finance plans trigger step securities tied to index basket
By Sarah Lizee
Olympia, Wash., Aug. 26 – GS Finance Corp. plans to price 0% trigger step securities due Aug. 29, 2025 linked to a basket of indexes, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 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 finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the basket return and 25% to 29.25%.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% downside threshold level.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
The notes will price on Aug. 27.
The Cusip number is 36259L329.
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