Published on 2/18/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.22 million leveraged buffered notes tied to indexes
By Marisa Wong
Morgantown, W.Va., Feb. 18 – GS Finance Corp. priced $3.22 million of 0% leveraged buffered notes due Feb. 22, 2018 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 a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 3 times the basket return, subject to a maximum settlement of $1,271.50 per $1,000 principal amount.
If the basket falls by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond the buffer.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered notes
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| Underlying indexes: | Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight
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| Amount: | $3.22 million
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| Maturity: | Feb. 22, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket return is positive, par plus 3 times the basket return, subject to a maximum settlement of $1,271.50 per $1,000 principal amount; if basket falls by up to 10%, par; otherwise, investors will lose 1.1111% for every 1% decline beyond the buffer
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| Initial levels: | 2,821.26 for Euro Stoxx, 5,862.17 for FTSE, 1,297.01 for Topix, 7,813.79 for Swiss Market and 4,910.037 for S&P/ASX
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 23
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.65%
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| Cusip: | 40054K3J3
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