Published on 10/10/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $12.08 million leveraged buffered notes tied to basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – GS Finance Corp. priced $12.08 million of 0% leveraged buffered basket-linked notes due Oct. 5, 2021 tied 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 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.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the basket return is positive, the payout at maturity will be par plus 3 times the basket return, up to a maximum of par plus 27.9%.
If the basket return is zero or negative but not less than negative 10%, the payout will be par.
Investors will lose 1.1111 for every 1% decline in the basket beyond 10%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying basket: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (19% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
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| Amount: | $12.08 million
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| Maturity: | Oct. 5, 2021
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| Price: | Par
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| Payout at maturity: | If the basket return is positive, par plus 3 times the basket return, up to a maximum of par plus 27.9%; if basket falls by up to 10%, par; 1.0526% loss for every 1% decline in the basket beyond 10%
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| Initial levels: | 3,518.25 for Euro Stoxx, 1,603.00 for Topix, 7,360.32 for FTSE, 9,952.5 for Swiss Market, 6,742.849 for S&P/ASX
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| Pricing date: | Oct. 1
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| Settlement date: | Oct. 8
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.65%
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| Cusip: | 40056XDK9
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