Published on 11/21/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $900,000 leveraged buffered notes tied to basket
By Sarah Lizee
Olympia, Wash., Nov. 21 – GS Finance Corp. priced $900,000 of 0% leveraged buffered notes due May 19, 2022 linked to a basket of indexes and an ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the S&P 500 index with a 45.91% weight, the S&P MidCap 400 index with a 10.72% weight, the iShares MSCI EAFE Small Cap ETF with a 9.56% weight, the MSCI Emerging Markets index with a 9.11% weight, the Euro Stoxx 50 index with an 8.71% weight, the Russell 2000 index with a 5.36% weight, the Topix index with a 5.23% weight, the FTSE 100 index with a 3.87% weight and the S&P/ASX 200 index with a 1.53% weight.
The payout at maturity will be par plus 1.25 times any basket gain.
Investors will receive par if the basket falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
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 assets: | S&P 500 index with a 45.91% weight, S&P MidCap 400 index with a 10.72% weight, iShares MSCI EAFE Small Cap ETF with a 9.56% weight, MSCI Emerging Markets index with a 9.11% weight, Euro Stoxx 50 index with an 8.71% weight, Russell 2000 index with a 5.36% weight, Topix index with a 5.23% weight, FTSE 100 index with a 3.87% weight and S&P/ASX 200 index with a 1.53% weight
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| Amount: | $900,000
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| Maturity: | May 19, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.25 times any basket gain; par if the basket falls by up to 15%; 1% loss for every 1% decline beyond 15%
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| Initial levels: | 2,730.20 for S&P, 1,863.03 for S&P MidCap, $56.16 for ETF, 980.85 for EM index, 3,190.31 for Stoxx, 1,524.122 for Russell, 1,638.97 for Topix, 7,038.01 for FTSE and 5,736.018 for S&P/ASX
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| Pricing date: | Nov. 15
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| Settlement date: | Nov. 20
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.22%
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| Cusip: | 40056EG93
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