New Issue: Goldman Sachs prices $14.91 million 7.75% notes exchangeable for Cendant

New York, Nov. 14 - The Goldman Sachs Group, Inc. priced $14.91 million 7.75% notes mandatorily exchangeable for the common stock of Cendant Corp., according to a filing with the Securities and Exchange Commission.

Issuer:	The Goldman Sachs Group, Inc.
Issue:	Mandatory exchangeable medium-term notes
Amount:	$14,910,596.45 (proceeds), $22.115 million (face)
Maturity:	Aug. 17, 2004
Coupon:	7.75%, payable quarterly beginning Feb. 17, 2003
Price:	67.423 ($33.7115 against $50 face)
Yield:	33.091%
Exchange premium:	48.3%
Exchange ratio:	1.7593 if Cendant Corp. stock closes at $28.42 or higher, 2.3223 if Cendant stock closes at $21.53 or lower, otherwise $50 worth of stock.
Pricing date:	Nov. 7
Settlement:	Nov. 15
Underwriter:	Goldman, Sachs & Co.
Cusip:	38141G369

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