Published on 2/24/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2 million of leveraged notes linked to index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – GS Finance Corp. priced $2 million of leveraged notes due April 3, 2017 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
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 $1,243 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.
The notes are guaranteed by Goldman Sachs Group, Inc.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged notes
|
| Underlyings: | 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
|
| Amount: | $2 million
|
| Maturity: | April 3, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus three times any basket gain, capped at $1,243 for each $1,000 principal; par if index falls by up to 10%; 1.1111% loss for every 1% decline beyond 10%
|
| Initial index levels: | 2,933.91 for Euro Stoxx, 6,037.73 for FTSE, 1,300.00 for Topix, 7,961.49 for Swiss Market and 5,001.224 for S&P/ASX
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 29
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 0.9%
|
| Cusip: | 40054K3U8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
