New Issue: Goldman sells $18 million notes exchangeable for 3M at 1.5%, up 16.25%

New York, Oct. 6 - The Goldman Sachs Group Inc. priced $18 million of seven-year notes exchangeable for the common stock of 3M Co. to yield 1.5% with a 16.25% initial conversion premium, 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:	3M Co.
Amount:	$18 million
Maturity:	Oct. 8, 2011
Coupon:	1.5%
Price:	Par
Yield:	1.5%
Exchange premium:	16.25% over initial price of $79.94
Exchange price:	$92.9302
Exchange ratio:	10.7608, in cash or stock at Goldman's option
Call:	Oct. 8, 2007 onwards at par, automatic exchange if stock more valuable
Payout at maturity:	Par, automatic exchange if stock more valuable
Pricing date:	Oct. 1
Settlement date:	Oct. 8
Underwriter:	Goldman, Sachs & Co.
Distribution:	Off shelf

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