Published on 6/27/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $180,000 leveraged buffered notes linked to indexes
By Sarah Lizee
Olympia, Wash., June 27 – GS Finance Corp. priced $180,000 of 0% leveraged buffered notes due Nov. 29, 2019 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 consists of the Hang Seng China Enterprises index with a 50% weight, the Nikkei 225 index with a 25% weight and the S&P/ASX 200 index with a 25% weight.
If the basket return is positive, the payout at maturity will be par plus 150% of the basket return, subject to a maximum payout of $1,186 per $1,000 of notes.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. is the agent.
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 assets: | Hang Seng China Enterprises index (50% weight), Nikkei 225 index (25% weight) and S&P/ASX 200 index (25% weight)
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Amount: | $180,000
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Maturity: | Nov. 29, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 150% of basket return, subject to a maximum payout of $1,186 per $1,000 of notes; par if basket declines by 10% or less; 1% loss for every 1% basket declines beyond 10%
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Initial index levels: | 11,208.90 for Hang Seng China Enterprises, 22,338.15 for Nikkei 225 and 6,210.408 for S&P/ASX 200
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | Goldman Sachs & Co.
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Fees: | 0.35%
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Cusip: | 40055QFY3
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