Published on 3/7/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $22.28 million trigger gears linked to index basket
By Marisa Wong
Morgantown, W.Va., March 7 – GS Finance Corp. priced $22.28 million of 0% trigger gears due Feb. 28, 2023 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 times any basket gain.
Investors will receive par if the basket falls by up to 50% and will be fully exposed to any losses if it finishes below its 50% 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)
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Amount: | $22,275,000
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Maturity: | Feb. 28, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any basket gain; par if basket declines by 50% or less; if basket finishes below 50% downside threshold, 1% loss per 1% decline
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Initial levels: | 3,463.18 for Euro Stoxx, 7,289.58 for FTSE, 22,153.63 for Nikkei, 9,026.11 for Swiss Market, 6,042.177 for S&P/ASX and 31,498.60 for Hang Seng
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Pricing date: | Feb. 26
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.85%
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Cusip: | 36254G127
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