Published on 2/7/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.19 million trigger gears linked to index basket
By Marisa Wong
Morgantown, W.Va., Feb. 7 – GS Finance Corp. priced $5,193,440 of 0% trigger gears due Jan. 29, 2021 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The payout at maturity will be par of $10 plus 2.13 times any basket gain.
Investors will receive par if the basket falls by up to 25% and will be fully exposed to any losses if it finishes below its 75% downside threshold.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger gears
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| Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei 225 index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
|
| Amount: | $5,193,440
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| Maturity: | Jan. 29, 2021
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 213% of any basket gain; par if basket declines by 25% or less; if basket finishes below 75% downside threshold, 1% loss per 1% decline
|
| Initial levels: | 3,643.04 for Euro Stoxx, 7,671.53 for FTSE, 23,629.34 for Nikkei, 9,457.27 for Swiss Market, 6,075.409 for S&P/ASX and 32,966.89 for Hang Seng
|
| Pricing date: | Jan. 29
|
| Settlement date: | Jan. 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.175%
|
| Cusip: | 36254F640
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