The Goldman Sachs Group, Inc. CDR (GS)

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https://www.goldmansachs.com

The Goldman Sachs Group, Inc. CDR is a Canadian Depositary Receipt (CDR) that provides Canadian investors with exposure to The Goldman Sachs Group, Inc., a leading global financial institution, through trading in Canadian dollars on a Canadian exchange. This CDR represents a fraction of the underlying shares of The Goldman Sachs Group, Inc., which operates across key segments including Investment Banking, Global Markets, Asset & Wealth Management, and Consumer & Wealth Management, serving corporations, financial institutions, governments, and individuals worldwide. It offers a built-in notional currency hedge that minimizes foreign exchange fluctuations between the U.S. dollar and Canadian dollar, allowing returns to align closely with the performance of the underlying NYSE-listed stock. CDRs like this one facilitate affordable access to high-value international equities via fractional ownership, pass through dividends in CAD, and support portfolio diversification into global financial services without direct currency risk exposure. Issued by CIBC and listed on the Toronto Stock Exchange, it embodies the CDR structure's innovation, akin to U.S. ADRs, enhancing accessibility for Canadian markets.