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Goldman Sachs Claymore CEF Index-Linked GS Connect ETN due 12/10/2037
Ticker Symbol: GCEC CUSIP: 362273104 Exchange: OTOTC
Company's Online Profile
BUSINESS: Goldman Sachs Claymore CEF Index-Linked GS Connect Echange Traded Note (ETN) due on December 10, 2037, are senior, unsecured debt securities issued by GS Finance Corp fully and unconditionally guaranteed by Goldman Sachs Group, Inc. and is part of the Medium-Term Notes, Series A. INVESTMENT OBJECTIVE: The Claymore CEF Index-Linked GS Connect ETN is linked to the Claymore CEF Index. INDEX DESCRIPTION: The Claymore CEF Index measures the performance of a basket of closed-end funds selected and weighted based on a predefined set of criteria such as liquidity, distributions and market valuation, among other factors. CEFs are collective investment vehicles with a fixed number of shares that invest in equity or income-producing securities, including fixed-income underliers, the majority of which are actively managed by an investment advisor. CEFs generally focus their investments in certain types of securities, sectors or strategies. Investment objectives could include high current income, tax-advantaged income, capital growth or balanced strategies. Typically CEFs use leverage to enhance their returns, i.e., they borrow cash to invest and hope to earn a higher yield, and often employ risk-mitigating strategies to offset any potential investment losses. When they launch, CEFs sell a fixed number of shares through an initial public offering, after which the shares might trade on a major stock exchange, similar to common stock. New shares are rarely issued after the closed-end funds are launched (although subsequent offerings in various forms have been completed). RETURNS AND MATURITY: The return on the Securities may be positive or negative, and is directly linked to the performance of the Index, which is based on a variety of market and economic factors, interest rates in the markets and economic, financial, political, regulatory, judicial or other events that affect the markets generally. If you hold your ETNs to maturity, December 10, 2037, unless your notes have been redeemed earlier, on the stated maturity date we will pay you an amount in cash calculated as follows: First, we will add (i) the outstanding face amount of your notes plus (ii) the outstanding face amount multiplied by the index return. Second, we will subtract from the result calculated in the first bullet point any applicable index adjustment amount shortfall calculated on the determination date. REDEMPTION AND FEES: You may elect to redeem your notes in whole or in part on any weekly redemption date, but only if you elect to redeem a minimum of 100,000 notes and comply with the early redemption procedures. First, we will multiply (i) the face amount of your notes being redeemed by (ii) the index factor for the applicable redemption valuation date. Second, we will subtract from the result calculated in the first bullet point the accrued index adjustment amount from the previous interest valuation date to the applicable redemption valuation date. The investor fee is equal to 0.95% per annum accrued on a daily basis. For calculations of fees and any further information on this ETN click on the Link to IPO Prospectus provided.
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Notes: August 11, 2020 -- The Goldman Sachs Group, Inc. (NYSE: GS) today announced that it plans to delist its GS ConnectTM S&P GSCI® Enhanced Commodity Total Return Strategy Index ETN (ticker: GSC; IIV ticker: GSCIV) (the “GSC ETN”) from NYSE Arca.
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IPO - 12/11/2007 -
Link to IPO Prospectus
Previous Ticker Symbol: GCE Changed: 8/31/2020
Micro Cap Stock -
Market Value $3.2 Million
Click for current GCEC price quote from the PINK SHEETS
Click for current GCEC price quote from the NASDAQ
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 85 Broad Street, New York, NY 10004 |
| Main Phone Number |
212-902-1000 |
| Fax Number |
212-902-3000 |
| Investor Contact
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212-357-2674
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Toll Free Phone Number |
Unknown |
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