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GS Connect S&P GSCI Enhanced Community TR Strategy Index ETN due 5/8/2037
Ticker Symbol: TEMP25 CUSIP: 38144L852 Exchange: NYSEA
* NOTE: This security has been delisted at the request of the issuer and is no longer trading
but to our knowledge is still paying distributions to holders.
The security may start trading on the Other OTC market but to date it has not (to our knowledge).
Company's Online Profile
BUSINESS: Goldman Sachs GS Connect S&P GSCI Enhanced Community Total Return Strategy Index Echange Traded Note (ETN) due on May 8, 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 B. INVESTMENT OBJECTIVE: The GS Connect S&P GSCI Enhanced Community Total Return Strategy Index ETN is linked to the S&P GSCI Enhanced Commodity Total Return Strategy Index. INDEX DESCRIPTION: The S&P GSCI Enhanced Commodity Total Return Strategy Index reflects the total returns that are potentially available through an unleveraged investment in the same futures contracts as are included in the S&P GSCI, calculated on a basis similar to the S&P GSCI, but modified to apply certain dynamic, timing and seasonal rolling rules. The S&P GSCI is calculated primarily on a world production weighted basis, and is comprised of the principal physical commodities that are the subject of active, liquid futures markets. The weight of each commodity in the Index is determined by the average quantity of production as per the last five years of available data. The production weights are designed to reflect the relative significance of each of the constituent commodities in the world economy while preserving the tradability of the Index. The S&P GSCI index series comprises several sub indices including commodity sectors, single components, as well as thematic baskets such as Biofuel and Petroleum. The Index tries to sidestep the issue of contango. Contango occurs when the cost of the next-month futures contract is more expensive than the current month contract; i.e., when oil tomorrow costs more than oil today. When this happens, investors effectively lose money each time they roll their position (sell the expiring contract and buy the next month contract).
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, May 8, 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 redemption date, but only if you elect to redeem a minimum of 50,000 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 1.35% 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.
GS Finance Corp., a wholly owned subsidiary of The Goldman Sachs Group, Inc., today announced that it plans to delist its Claymore CEF Index-Linked GS ConnectSM ETN (ticker: GCE; IIV ticker: GCEIV) (the “GCE ETN” and, together with the GSC ETN, the “ETNs”) from NYSE Arca. The relevant issuer of each ETN is proposing to delist from NYSE Arca due to low levels of trading activity in the ETNs. The issuer of this ETN has suspended the issuance of new notes. ETNs that are closed to the issuance of new notes pose additional investment risks such as the potential for the market price to deviate from the fund's Net Asset Value, as well as increased volatility. Paying a premium over an ETN's Net Asset Value could lead to significant losses.
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IPO - 5/3/2007 -
Link to IPO Prospectus
Previous Ticker Symbol: GSC
Micro Cap Stock -
Market Value $72.2 Million
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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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