Published on 8/1/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.28 million trigger gears linked to index basket
By Sarah Lizee
Olympia, Wash., Aug. 1 – GS Finance Corp. priced $3.28 million of 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 of $10 plus 3.13 times any basket gain.
Investors will receive par if the basket falls by up to the downside threshold, 65% of the initial level, and will be fully exposed to any losses if it finishes below its downside threshold.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
|
| 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: | $3.28 million
|
| Maturity: | Aug. 1, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 3.13 times any basket gain; par if the basket falls by up to the downside threshold, 65% of the initial level; full exposure to losses if basket finishes below downside threshold
|
| Initial levels: | 3,527.18 for Euro Stoxx, 7,701.31 for FTSE, 22,712.75 for Nikkei, 9,173.20 for Swiss Market, 6,300.227 for S&P/ASX and 28,804.28 for Hang Seng
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| Pricing date: | July 27
|
| Settlement date: | July 31
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| Agents: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
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| Fees: | 2.35%
|
| Cusip: | 36255U430
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