Published on 6/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.18 million trigger gears linked to index basket
By Kiku Steinfeld
Chicago, June 2 – GS Finance Corp. priced $5.18 million of 0% trigger gears due May 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 1.81 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.
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: | 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: | $5,175,650
|
| Maturity: | May 30, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 1.81 times any basket gain; par if basket finishes flat or falls by no more than 25%; otherwise, 1% loss for every 1% basket decline from initial level
|
| Initial levels: | 3,051.08 for Euro Stoxx, 6,144.25 for FTSE, 21,419.23 for Nikkei, 9,716.52 for Swiss Market, 5,775.011 for S&P/ASX and 23,301.36 for Hang Seng
|
| Downside threshold: | 75% of initial basket level
|
| Pricing date: | May 27
|
| Settlement date: | May 29
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 3.85%
|
| Cusip: | 36259J324
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
