Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.74 million trigger gears linked to basket
By Angela McDaniels
Tacoma, Wash., Aug. 8 – GS Finance Corp. priced $1.74 million of 0% trigger gears due Aug. 9, 2024 linked to a basket of indexes and one fund, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Hang Seng index, the Nikkei 225 index, the Euro Stoxx 50 index and the WisdomTree India Earnings Fund, each with a 20% weight, and the S&P/ASX 200 index and the FTSE 100 index, each with a 10% weight.
If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 2.501 times the basket return.
If the final basket level is less than or equal to the initial basket level but greater than or equal to the downside threshold, 75% of the initial basket level, the payout will be par.
If the final basket level is less than the downside threshold, investors will lose 1% for every 1% that the basket declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. UBS Financial Services Inc. is acting as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger gears
|
| Underlying basket: | Hang Seng index (20% weight), Nikkei 225 index (20% weight), Euro Stoxx 50 index (20% weight), WisdomTree India Earnings Fund (20% weight), S&P/ASX 200 index (10% weight) and FTSE 100 index (10% weight)
|
| Amount: | $1,742,050
|
| Maturity: | Aug. 9, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final basket level is greater than initial basket level, par plus 2.501 times basket return; if final basket level is less than or equal to initial basket level but greater than or equal to 75% downside threshold, par; if final basket level is less than downside threshold, 1% loss for every 1% that basket declines from initial level
|
| Initial levels: | 25,976.24 for Hang Seng, 20,585.31 for Nikkei 225, 3,291.66 for Euro Stoxx 50, $23.11 for India fund; 6,478.090 for S&P/ASX 200 and 7,171.69 for FTSE 100
|
| Pricing date: | Aug. 6
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| Settlement date: | Aug. 9
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 0.35%
|
| Cusip: | 36257W616
|
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