New Issue: Goldman prices $12.45 million notes exchangeable for Outback Steakhouse

New York, July 29 - The Goldman Sachs Group Inc. priced $12.452 million of one-year 6% notes mandatorily exchangeable for the common stock of Outback Steakhouse Inc., 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:	Exchangeable medium-term notes
Underlying stock:	Outback Steakhouse Inc.
Amount:	$12.452 million
Maturity:	Aug. 1, 2005
Coupon:	6%, payable monthly
Price:	260,900 or $10.578 million at par of $40.5459 on July 22, 46,200 or $1.873 million face at $40.083 or 98.858 on July 23
Yield:	6%
Payout at maturity:	One share of Outback stock per $40.5459 face amount, capped at $44.6005, 110% of par, in cash or stock at Goldman's option
Exchange price:	$40.5459
Pricing date:	July 22, July 23
Settlement date:	July 29
Underwriter:	Goldman, Sachs & Co.
Distribution:	Off shelf

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