Published on 6/12/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.16 million leveraged buffered notes on index basket
By Marisa Wong
Morgantown, W.Va., June 12 – GS Finance Corp. priced $1.16 million of 0% leveraged buffered notes due May 26, 2021 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 39% weight, the Topix with a 26% weight, the FTSE 100 index with a 15% weight, the S&P/ASX 200 with an 11% weight and the Swiss Market index with a 9% weight.
The payout at maturity will be par plus 1.615 times any basket gain.
Investors will receive par if the basket declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
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 basket: | Euro Stoxx 50 index with a 39% weight, the Topix with a 26% weight, the FTSE 100 index with a 15% weight, the S&P/ASX 200 with an 11% weight and the Swiss Market index with a 9% weight
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Amount: | $1,155,000
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Maturity: | May 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.615 times any basket gain; par if basket falls by up to 15%; 1.1765% loss for every 1% drop beyond 15%
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Initial levels: | 3,425.64 for Euro Stoxx, 1,554.25 for Topix, 7,348.62 for FTSE, 6,365.299 for S&P/ASX and 9,659.08 for Swiss Market
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Pricing date: | May 17
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Settlement date: | May 22
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Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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Fees: | 1.675%
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Cusip: | 40056FHW8
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