New Issue: GS Finance sells $2.43 million buffered basket-linked notes on ETFs

By William Gullotti

Buffalo, N.Y., Aug. 12 – GS Finance Corp. priced $2.43 million of 0% buffered notes due May 18, 2023 linked to a basket of ETFs, according to a 424B2 filing with the Securities and Exchange Commission.

The fixed coupon will be paid annually.

The basket consists of the SPDR S&P 500 ETF Trust (70% weighting), the iShares Russell 2000 ETF (15% weighting) and the iShares MSCI EAFE ETF (15% weighting).

The payout at maturity will be par plus the basket gain, up to a maximum settlement amount of $1,150 per $1,000 principal amount of notes.

Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1% for every 1% decline beyond the 15% buffer.

Goldman Sachs & Co. LLC is the agent.

Issuer:	GS Finance Corp.
Guarantor:	Goldman Sachs Group, Inc.
Issue:	Buffered basket-linked notes
Underlying ETFs:	SPDR S&P 500 ETF Trust (70% weighting), the iShares Russell 2000 ETF (15% weighting) and the iShares MSCI EAFE ETF (15% weighting)
Amount:	$2,430,000
Maturity:	May 18, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is positive, par plus the basket gain, up to a maximum settlement amount of $1,150 per $1,000 principal amount of notes; if basket finishes flat or declines by up to 15%, par; otherwise, 1% loss for every 1% decline beyond 15% buffer
Initial levels:	$416.58 for SPDR, $221.02 for iShares Russell, $79.56 for EAFE ETF
Buffer levels:	85% of initial levels
Pricing date:	May 14
Settlement date:	May 19
Agent:	Goldman Sachs & Co. LLC
Fees:	0.5%
Cusip:	40057HCH1

© 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.