Published on 1/8/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $676,000 buffered digital notes linked to basket
By Sarah Lizee
Olympia, Wash., Jan. 8 – GS Finance Corp. priced $676,000 0% buffered digital notes due Jan. 11, 2022 linked to a basket of indexes, 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 Euro Stoxx 50 index with a 42.5% weight, the Topix index with a 24.25% weight, the FTSE 100 index with a 15% weight, the Swiss Market index with an 8% weight, the S&P/ASX 200 index with a 7% weight and the Hang Seng China Enterprises index with a 3.25% weight.
If the final basket level is equal to or greater than 80% of the initial level, the payout at maturity will be the greater of the threshold settlement amount, $1,177.50 per $1,000 of notes, and par plus the return.
Otherwise, investors will lose 1.25% for every 1% that the basket has declined beyond the buffer level.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Buffered digital notes
|
| Underlying indexes: | Euro Stoxx 50 index with a 42.5% weight, Topix index with a 24.25% weight, FTSE 100 index with a 15% weight, Swiss Market index with an 8% weight, S&P/ASX 200 index with a 7% weight and Hang Seng China Enterprises index with a 3.25% weight
|
| Amount: | $676,000
|
| Maturity: | Jan. 11, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final basket level is equal to or greater than 80% of the initial level, greater of $1,177.50 per $1,000 of notes and par plus the return; otherwise, 1.25% loss for every 1% that the basket has declined beyond the buffer level
|
| Initial levels: | 3,041.85 for Stoxx, 1,471.16 for Topix, 6,837.42 for FTSE, 8,608.56 for Swiss, 5,619.355 for S&P/ASX, 10,029.65 for Hang Seng
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 11
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.5%
|
| Cusip: | 40056ERU4
|
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