Published on 1/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5.12 million trigger gears linked to basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 10 – GS Finance Corp. priced $5.12 million of 0% trigger gears due Jan. 9, 2025 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 2.0625 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, 60% 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger gears
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| Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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| Amount: | $5,123,000
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| Maturity: | Jan. 9, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final basket level is greater than initial basket level, par plus 2.0625 times basket return; if final basket level is less than or equal to initial basket level but greater than or equal to 60% downside threshold, par; if final basket level is less than downside threshold, 1% loss for every 1% that basket declines from initial level
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| Initial levels: | 3,752.52 for Euro Stoxx 50, 23,204.86 for Nikkei, 7,575.34 for FTSE 100, 10,665.41 for Swiss Market, 6,735.707 for S&P/ASX 200 and 28,226.19 for Hang Seng
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| Downside threshold: | 60% of initial basket level
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| Pricing date: | Jan. 6
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| Settlement date: | Jan. 9
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 3.85%
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| Cusip: | 36259E812
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