Published on 5/15/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.3 million leveraged buffered notes on index basket
By Wendy Van Sickle
Columbus, Ohio, May 15 – GS Finance Corp. priced $3.3 million of 0% leveraged buffered notes due May 16, 2019 linked to a basket of indexes, according to a 424B2 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.
The payout at maturity will be par plus 1.5 times any basket gain, up to a maximum settlement amount of $1,165 for each $1,000 principal amount of notes.
Investors will receive par if the basket falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
Goldman, Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered notes
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| Underlying basket: | Euro Stoxx 50 index with a 37% weight, FTSE 100 index with a 23% weight, Topix index with a 23% weight, Swiss Market index with a 9% weight and S&P/ASX 200 index with an 8% weight.
|
| Amount: | $3,295,000
|
| Maturity: | May 16, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any basket gain, up to a maximum settlement amount of $1,260 for each $1,000 principal amount; par if the basket falls by up to 20%; 1.25% loss for each 1% decline beyond 20%.
|
| Initial levels: | 3,623.55 for Euro Stoxx, 7,386.63 for FTSE, 1,586.86 for Topix, 9,064.88 for Swiss Market and 5,878.337 for S&P/ASX
|
| Pricing date: | May 11
|
| Settlement date: | May 18
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.65%
|
| Cusip: | 40054LCM4
|
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