Published on 4/26/2017 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $600,000 leveraged notes on basket of 35 infrastructure stocks
By Marisa Wong
Morgantown, W.Va., April 26 – GS Finance Corp. priced $600,000 of 0% leveraged notes due Oct. 24, 2018 linked to an equally weighted basket of stocks of 35 companies in the infrastructure industry, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket stocks were selected by Kensho Technologies Inc. as of Dec. 31. The companies are Flowserve Corp., Idex Corp., Mueller Water Products, Inc., Pentair plc, Rexnord Corp., Xylem Inc., Vectren Corp., Aecom, Astec Industries, Inc., Emcor Group, Inc., Eagle Materials Inc., Granite Construction Inc., Headwaters Inc., MDU Resources Group, Inc., Martin Marietta Materials, Inc., Summit Materials, LLC, Tutor Perini Corp., Tetra Tech, Inc., Vulcan Materials Co., Crown Castle International Corp., Uniti Group Inc., Dycom Industries, Inc., Mastec, Inc., Quanta Services Inc., CommScope Holding Co., Inc., Gibraltar Industries, Inc., SemGroup Corp., Valero Energy Corp., Valmont Industries Inc., Knowles Corp, 3M Co., Lumentum Holdings Inc., Argan Inc., Jacobs Engineering Group Inc. and US Concrete Inc.
If the basket return is positive, the payout at maturity will be par plus 3 times the basket gain, with the return capped at 16.65%.
Investors will share in any losses.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged notes
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| Underlying stocks: | Flowserve Corp. (Symbol: FLS), Idex Corp. (Symbol: IEX), Mueller Water Products, Inc. (Symbol: MWA), Pentair plc (Symbol: PNR), Rexnord Corp. (Symbol: RXN), Xylem Inc. (Symbol: XYL), Vectren Corp. (Symbol: VVC), Aecom (Symbol: ACM), Astec Industries, Inc. (Symbol: ASTE), Emcor Group, Inc. (Symbol: EME), Eagle Materials Inc. (Symbol: EXP), Granite Construction Inc. (Symbol: GVA), Headwaters Inc. (Symbol: HW), MDU Resources Group, Inc. (Symbol: MDU), Martin Marietta Materials, Inc. (Symbol: MLM), Summit Materials, LLC (Symbol: SUM), Tutor Perini Corp. (Symbol: TPC), Tetra Tech, Inc. (Symbol: TTEK), Vulcan Materials Co. (Symbol: VMC), Crown Castle International Corp. (Symbol: CCI), Uniti Group Inc. (Symbol: UNIT), Dycom Industries, Inc. (Symbol: DY), Mastec, Inc. (Symbol: MTZ), Quanta Services Inc. (Symbol: PWR), CommScope Holding Co., Inc. (Symbol: COMM), Gibraltar Industries, Inc. (Symbol: ROCK), SemGroup Corp. (Symbol: SEMG), Valero Energy Corp. (Symbol: VLO), Valmont Industries Inc. (Symbol: VMI), Knowles Corp (Symbol: KN), 3M Co. (Symbol: MMM), Lumentum Holdings Inc. (Symbol: LITE), Argan Inc. (Symbol: AGX), Jacobs Engineering Group Inc. (Symbol: JEC) and US Concrete Inc. (Symbol: USCR); equally weighted
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| Amount: | $600,000
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| Maturity: | Oct. 24, 2018
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| Coupon: | 0%
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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 gain, with the return capped at 16.65%; investors will share in any losses
|
| Initial prices: | $48.08 for Flowserve, $94.00 for Idex, $11.87 for Mueller, $62.22 for Pentair, $22.23 for Rexnord, $49.33 for Xylem, $58.72 for Vectren, $33.44 for Aecom, $60.82 for Astec, $62.01 for Emcor, $94.45 for Eagle, $51.75 for Granite, $23.68 for Headwaters, $26.90 for MDU, $211.16 for Martin Marietta, $24.61 for Summit, $31.15 for Tutor Perini, $41.60 for Tetra, $117.41 for Vulcan, $96.52 for Crown Castle, $27.12 for Uniti, $107.03 for Dycom, $42.95 for Mastec, $35.05 for Quanta, $41.02 for CommScope, $37.20 for Gibraltar, $33.80 for SemGroup, $63.49 for Valero, $152.05 for Valmont, $19.06 for Knowles, $189.83 for 3M, $42.95 for Lumentum, $65.65 for Argan, $53.88 for Jacobs, $61.025 for US Concrete
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| Pricing date: | April 19
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| Settlement date: | April 26
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| Agent: | Goldman Sachs & Co.
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| Fees: | 1.35%
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| Cusip: | 40054L6Z2
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