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GS Finance plans to price trigger gears due 2023 tied to index basket
By Sarah Lizee
Olympia, Wash., July 17 – GS Finance Corp. plans to price 0% trigger gears due Aug. 1, 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 plus 3.13 to 3.16 times any basket gain. The exact upside gearing will be set at pricing.
Investors will receive par if the basket falls by up to 35% and will be fully exposed to any losses if it finishes below its 65% downside threshold.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
The notes will price on July 27 and settle on July 31.
The Cusip number is 36255U430.
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