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Published on 12/8/2004 in the Prospect News Convertibles Daily.

New Issue: Goldman prices $9.99 million trigger notes exchangeable for Limited Brands

New York, Dec. 8 - The Goldman Sachs Group Inc. priced $9.99 million of one-year 7.5% trigger notes mandatorily exchangeable for Limited Brands Inc. stock, according to a 424B3 filing with the Securities and Exchange Commission.

Terms of the deal are as follows:

Issuer:The Goldman Sachs Group Inc.
Issue:Trigger mandatorily exchangeable medium-term notes
Underlying stock:Limited Brands Inc.
Amount:$9.989 million
Maturity:Dec. 12, 2005
Coupon:7.5%
Price:Par of $24.07
Yield:7.5%
Payout at maturity:If Limited Brands stock never falls below threshold price, 1 share per $24.07 principal amount, with minimum value of $24.07 and maximum of $26.477, 110% of initial price
If Limited Brands stock falls below threshold price, 1 share per $24.07 principal amount, with maximum of $26.477, 110% of initial price
Payable in cash or stock at Goldman's option
Threshold price:$18.0525, 75% of initial price of $24.07
Exchange price:$24.07
Exchange ratio:1, in cash or stock at Goldman's option
Pricing date:Dec. 2
Settlement date:Dec. 9
Underwriter:Goldman, Sachs & Co.
Distribution:Off shelf

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