New Issue: Goldman Sachs prices $9 million 4.8% notes mandatorily exchangeable for Cummins, Lennar

By Jennifer Chiou

New York, Nov. 4 - The Goldman Sachs Group, Inc. priced $9 million of 4.8% notes due May 4, 2006 mandatorily exchangeable for Cummins Inc. and Lennar Corp. stock, according to a 424B3 filing with the Securities and Exchange Commission.

Issuer:	The Goldman Sachs Group, Inc.
Issue:	Mandatorily exchangeable series B medium-term notes
Underlying stocks:	Cummins Inc. with a 55.56% weight and Lennar Corp. with a 44.44% weight
Amount:	$9 million
Maturity:	May 4, 2006, unless extended up to six business days
Coupon:	4.8%, payable semiannually
Price:	Par of $100.00
Payout at maturity:	0.6703 Cummins shares, capped at $103.6075, 25% above initial price; 0.8150 Lennar shares, capped at $68.1675, 25% above initial price
Exchange price:	$82.886 for Cummins, $54.534 for Lennar
Lead manager:	Goldman, Sachs & Co.
Pricing date:	Oct. 28
Settlement date:	Nov. 4

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