New Issue: Goldman Sachs prices $5 million 7% notes exchangeable for Cendant

New York, April 14 - The Goldman Sachs Group Inc. priced $5 million of six-month 7% notes mandatorily exchangeable for the common stock of Cendant Corp., 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:	Mandatory exchangeable medium-term notes
Underlying stock:	Cendant Corp.
Amount:	$5 million
Maturity:	Oct. 18, 2004
Coupon:	7%, payable quarterly
Price:	Par of $24.967
Yield:	7%
Payout at maturity:	One share of Cendant Corp. per $24.967 face amount, capped at 110% of par, in cash or stock at Goldman's option
Exchange price:	$24.967
Pricing date:	April 8
Settlement date:	April 16
Underwriter:	Goldman, Sachs & Co.
Distribution:	Off shelf

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