Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.44 million trigger gears linked to index basket
By Wendy Van Sickle
Columbus, Ohio, May 7 – GS Finance Corp. priced $6.44 million of 0% trigger gears due April 30, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a weight of 40%, the FTSE 100 index with a weight of 20%, the Nikkei Stock Average index with a weight of 20%, the Swiss Market index with a weight of 7.5%, the S&P/ASX 200 index with a weight of 7.5% and the Hang Seng index with a weight of 5%.
The payout at maturity will be par of $10 plus 2.72 times any basket gain.
If the basket falls but not below the 65% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
The guarantor is Goldman Sachs Group, Inc.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC 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 index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng (5%)
|
| Amount: | $6,442,550
|
| Maturity: | April 30, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket gains, par plus 2.72 times return; if basket falls but not below 65% downside threshold level, par; otherwise, 1% loss per 1% decline
|
| Initial levels: | 3,500.41 for Stoxx, 7,428.19 for FTSE, 22,258.73 for Nikkei, 9,724.27 for Swiss Market, 6,385.646 for S&P/ASX and 29,605.01 for Hang Seng
|
| Pricing date: | April 26
|
| Settlement date: | April 30
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
| Fees: | 3.85%
|
| Cusip: | 36257D451
|
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