Certificates - flexible, transparent, and accessible
Goldman Sachs certificates can provide exposure to a broad range of underlying assets from equities, fixed income instruments, commodities, real estate, interest rates to volatility indices. An equally diverse set of payoff profiles helps meet any investment objective. With these products, investors can speculate not only on rising markets but also on sideward or downward markets with differing risk profiles.
A wide choice of price distribution channels enhances the transparency of the investment. In addition to the Goldman Sachs website, prices of secondary market making are available on established price sources such as Bloomberg, Reuters and Telekurs.
Recent Issues
Product list
Autocallables (131)
Fast return from moderate rises
Autocallables are suitable for investors that anticipate little change or a moderate rise in the underlying. On a number of trigger dates before maturity, the Autocallable gives its owner the opportunity to receive a redemption payment greater than the nominal. Losses are partially protected up to a predefined protection level.
Autocallables are suitable for investors that anticipate little change or a moderate rise in the underlying. On a number of trigger dates before maturity, the Autocallable gives its owner the opportunity to receive a redemption payment greater than the nominal. Losses are partially protected up to a predefined protection level.
Bonus (Reservoir) (3)
The classic bonus certificate plus reservoir
Reservoir Bonus Certificates combine the chance of a bonus at maturity with partial protection and unlimited participation in an increase in the underlying price. Due to the Reservoir Mechanism these Certificates offer a better partial protection than classical Bonus Certificates. The barrier level of a Reservoir Bonus Certificate, however, is higher in comparison to a classical Bonus Certificate with an identical product price.
Reservoir Bonus Certificates combine the chance of a bonus at maturity with partial protection and unlimited participation in an increase in the underlying price. Due to the Reservoir Mechanism these Certificates offer a better partial protection than classical Bonus Certificates. The barrier level of a Reservoir Bonus Certificate, however, is higher in comparison to a classical Bonus Certificate with an identical product price.
Bonus-Certificates (2,822)
100% participation plus a bonus
Bonus Certificates provide attractive returns in sideward markets. This structure combines the opportunity to receive a bonus payment with a conditional protection of the invested capital.
Bonus Certificates provide attractive returns in sideward markets. This structure combines the opportunity to receive a bonus payment with a conditional protection of the invested capital.
Capped Bonus Certificates (1,563)
Optimising sideward returns
Capped Bonus Certificates provide a suitable instrument for optimising sideward returns. Investor participates in the rises in the underlying up to a predefined cap. While he forgoes some upside profit opportunities from the outset with the cap, the investor receives a more comprehensive partial hedge and/or a higher bonus.
Capped Bonus Certificates provide a suitable instrument for optimising sideward returns. Investor participates in the rises in the underlying up to a predefined cap. While he forgoes some upside profit opportunities from the outset with the cap, the investor receives a more comprehensive partial hedge and/or a higher bonus.
Discount Certificates (338)
Buffered risk from reduced acquisition price
Discount certificates provide investors an opportunity to acquire a specific underlying with an attractive discount, which acts as a risk buffer. Consequently, profit can still be realised if the underlying falls marginally below its original level, but at maturity is still above the issue price of the certificate.
Discount certificates provide investors an opportunity to acquire a specific underlying with an attractive discount, which acts as a risk buffer. Consequently, profit can still be realised if the underlying falls marginally below its original level, but at maturity is still above the issue price of the certificate.
Hi-Score (Barrier) Certificates (6)
Participation in peak performance
Investors receives at maturity a participation in the best performance of the underlying asset during the term of the product. This participation is typically contingent on the underlying never trading below a predefined barrier at or prior to maturity.
Investors receives at maturity a participation in the best performance of the underlying asset during the term of the product. This participation is typically contingent on the underlying never trading below a predefined barrier at or prior to maturity.
Market Timer Products (86)
Participation certificates with optimised entry levels
Market-Timer-Certificates are suitable for investors, who expect rising stock market prices in the medium or long term, but are also assuming minor price corrections in the short term. Market-Timer-Certificates take the lowest price of the underlying in a given timeframe as reference entry level, unless during the lifespan of the Market-Timer a barrier is neither touched nor breached.
Market-Timer-Certificates are suitable for investors, who expect rising stock market prices in the medium or long term, but are also assuming minor price corrections in the short term. Market-Timer-Certificates take the lowest price of the underlying in a given timeframe as reference entry level, unless during the lifespan of the Market-Timer a barrier is neither touched nor breached.
One Delta-Fixed Maturity Certificates (159)
Transparent one delta exposure
The performance of One Delta-Fixed Maturity Certificates is easy to comprehend. It corresponds linearly to the performance of the underlying. For certificates with underlying assets in foreign currencies, investors usually have the option between currency hedged and currency unhedged products. In order to determine the value of these certificates, investors can simply multiply the respective exchange rate (with ratio, if applicable).
The performance of One Delta-Fixed Maturity Certificates is easy to comprehend. It corresponds linearly to the performance of the underlying. For certificates with underlying assets in foreign currencies, investors usually have the option between currency hedged and currency unhedged products. In order to determine the value of these certificates, investors can simply multiply the respective exchange rate (with ratio, if applicable).
One Delta-Open End Certificates (350)
Invest in indices and commodities with no duration limits
One Delta-Open End Certificates serve as a transparent instrument for investors who wish to participate directly in indices and commodities. It is in particular suitable for long-term participation in the development of a market or a market segment. Investors can independently decide the entry and exit times of their investments.
One Delta-Open End Certificates serve as a transparent instrument for investors who wish to participate directly in indices and commodities. It is in particular suitable for long-term participation in the development of a market or a market segment. Investors can independently decide the entry and exit times of their investments.
Principal Protected Certificates (178)
Secure investment with capital protection
Principal Protected Certificates protect the investor against undesired developments. A negative underlying performance does not incur losses because the certificate guarantees the right to receive at least the principal on maturity. The investor benefits from the positive performance of the underlying with a predefined participation rate.
Principal Protected Certificates protect the investor against undesired developments. A negative underlying performance does not incur losses because the certificate guarantees the right to receive at least the principal on maturity. The investor benefits from the positive performance of the underlying with a predefined participation rate.
Principal Protected Certificates (Cap) (25)
Partially protected investment with 100% participation
Principal Protected Certificates (Cap) offer the investor a high level of protection against unfavourable developments of the underlying. The investor is partly protected against price drops. A negative underlying performance does not incur losses because the certificate guarantees the right to receive at least a specified amount on maturity. The investor benefits from the positive performance of the underlying with a participation rate of 100%. The maximum gain, however, is limited by the Cap.
Principal Protected Certificates (Cap) offer the investor a high level of protection against unfavourable developments of the underlying. The investor is partly protected against price drops. A negative underlying performance does not incur losses because the certificate guarantees the right to receive at least a specified amount on maturity. The investor benefits from the positive performance of the underlying with a participation rate of 100%. The maximum gain, however, is limited by the Cap.
Reservoir Autocallables (2)
Potential for attractive returns
Reservoir Autocallables Certificates offer investors opportunities for early redemption on a series of annual trigger dates (the "ObservationDates"). A barrier level and a reservoir provide a partial loss cushion for the invested capital.
Reservoir Autocallables Certificates offer investors opportunities for early redemption on a series of annual trigger dates (the "ObservationDates"). A barrier level and a reservoir provide a partial loss cushion for the invested capital.
Reverse Convertibles (2,011)
Coupon plus partial protection
Investor receives a high coupon rate, while foregoing some upside profit opportunities at the outset. This structure also incorporates a conditional protection of the nominal.
Investor receives a high coupon rate, while foregoing some upside profit opportunities at the outset. This structure also incorporates a conditional protection of the nominal.
