Goldman Sachs

This structure provides the investor with one delta exposure both on the upside and the downside. Similar to Exchange Traded Funds, Tracker Certificates track a specific underlying asset, which is oftentimes an index or a commodity. Hence, the product is suitable for investors who desire long-term participation in the upward movement of a specific market or segment. There are two variants, fixed maturity and open end. Open-end products are typically American style and have an explicit management fee and issuer call right.