Published on 7/9/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.72 million buffered digital notes tied to index basket
By Sarah Lizee
Olympia, Wash., July 9 – GS Finance Corp. priced $4.72 million of 0% buffered digital notes due Aug. 10, 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 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
If the final basket level is equal to or greater than the initial level, the payout at maturity will be the greater of the threshold settlement amount, $1,300 per $1,000 of notes, and par plus the return.
If the basket falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1.1765% 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 (36% weight), Topix index (27% weight), FTSE 100 index (19% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (8% weight)
|
| Amount: | $4,719,000
|
| Maturity: | Aug. 10, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final basket level is equal to or greater than initial level, greater of $1,300 per $1,000 of notes and par plus the return; if the basket falls by up to 15%, par; otherwise, 1.1765% loss for every 1% that the basket has declined beyond the buffer level
|
| Initial levels: | 3,507.98 for Euro Stoxx, 1,589.84 for Topix, 7,559.19 for FTSE, 10,020.93 for Swiss Market, 6,653.212 for S&P/ASX
|
| Pricing date: | July 2
|
| Settlement date: | July 10
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 2.27%
|
| Cusip: | 40056FNQ4
|
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