Published on 2/28/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.56 million leveraged buffered notes linked to basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 28 – GS Finance Corp. priced $3.56 million of 0% leveraged buffered notes due Feb. 27, 2020 linked to a basket of indexes and a fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket components are 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 up to a 30.3% maximum gain.
Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for every 1% decline below the initial level if the basket falls by more than 10%.
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 buffered notes
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| Underlying basket: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight), S&P/ASX 200 (8% weight),
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| Amount: | $3,562,000
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| Maturity: | Feb. 27, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 3 times the basket return, up to a 30.3% maximum gain; par if basket falls by up to 10%; otherwise, 1.1111% loss for each 1% decline if basket falls by more than 10%
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| Initial levels: | 3,431.99 for Euro Stoxx 50; 7,252.39 for FTSE 100; 1,746.17 for Topix; 8,967.43 for Swiss Market; 5,950.881 for S&P/ASX 200
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| Pricing date: | Feb. 22
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| Settlement date: | March 1
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.65%
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| Cusip: | 40055AM79
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