Published on 5/26/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.9 million leveraged buffered notes tied to basket
By Devika Patel
Knoxville, Tenn., May 26 – GS Finance Corp. priced $5,897,000 of 0% leveraged buffered notes due May 1, 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 includes the Euro Stoxx 50 index with a 37% initial weight, the FTSE 100 index with a 23% initial weight, the Topix index with a 23% initial weight, the Swiss Market index with a 9% initial weight and the S&P/ASX 200 index with an 8% initial weight.
The payout at maturity will be par plus triple any basket gain, subject to a maximum settlement amount of $1,200 per $1,000 of notes.
Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered notes
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| Underlying indexes: | Euro Stoxx 50 (37% initial weight), FTSE 100 (23% initial weight), Topix (23% initial weight), Swiss Market (9% initial weight) and S&P/ASX 200 (8% initial weight)
|
| Amount: | $5,897,000
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| Maturity: | May 1, 2019
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| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus triple any basket gain, capped at $1,200 per $1,000 of notes; par if basket falls by up to 10% or less; 1.1111% loss for every 1% drop beyond 10%
|
| Initial levels: | 3,587.01 for Euro Stoxx, 7,470.71 for FTSE, 1,559.73 for Topix, 9,022.51 for Swiss Market and 5,727.409 for S&P/ASX
|
| Pricing date: | May 19
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| Settlement date: | May 26
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 1.59%
|
| Cusip: | 40054LD92
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