Published on 7/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $8.18 million trigger gears linked to index basket
By Sarah Lizee
Olympia, Wash., July 6 – GS Finance Corp. priced $8.18 million of 0% trigger gears due June 30, 2025 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 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 1.651 times the basket return.
If the basket declines by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines from its initial level.
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.
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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)
|
| Amount: | $8,179,600
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| Maturity: | June 30, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.651 times any basket gain; if basket declines by up to 25%, par; otherwise, 1% loss for every 1% basket decline from initial level
|
| Initial levels: | 3,204.17 for Euro Stoxx, 6,159.30 for FTSE, 22,512.08 for Nikkei, 10,041.91 for Swiss Market, 5,904.08 for S&P/ASX and 24,549.99 for Hang Seng
|
| Trigger level: | 75% of initial basket level
|
| Pricing date: | June 26
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| Settlement date: | June 30
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 3.85%
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| Cusip: | 36259J514
|
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