Published on 5/31/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $13.8 million trigger gears linked to index basket
By Sarah Lizee
Olympia, Wash., May 31 – GS Finance Corp. priced $13.8 million of 0% trigger gears due May 31, 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 2.25 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 and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger gears
|
| 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: | $13,795,680
|
| Maturity: | May 31, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 2.25 times any basket gain; par if basket declines by 50% or less; if basket finishes below 50% downside threshold, 1% loss per 1% decline
|
| Initial levels: | 3,428.14 for Euro Stoxx, 7,632.64 for FTSE, 22,358.43 for Nikkei, 8,637.2 for Swiss Market, 6,013.558 for S&P/ASX and 30,484.58 for Hang Seng
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agents: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
|
| Fees: | 3.85%
|
| Cusip: | 36254G572
|
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