Published on 5/26/2016 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $18.88 million leveraged notes tied to index basket
By Marisa Wong
Morgantown, W.Va., May 26 – GS Finance Corp. priced $18.88 million of 0% leveraged notes due June 27, 2019 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 three times the basket return, subject to a maximum settlement amount of $1,600 per $1,000 principal amount.
Investors will be exposed to any basket decline.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged basket-linked notes
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Underlying indexes: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix index (23% weight), Swiss Market index (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $18,883,000
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Maturity: | June 27, 2019
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If basket return is positive, par plus triple the basket return, with payout capped at par plus 60%; exposure to any basket decline
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Initial index levels: | 2,932.93 for Euro Stoxx, 6,136.43 for FTSE, 1,338.68 for Topix, 8,038.46 for Swiss Market and 5,318.943 for S&P/ASX
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Pricing date: | May 23
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Settlement date: | May 31
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Underwriter: | Goldman Sachs & Co.
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Fees: | 2.55%
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Cusip: | 40054KCW4
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