New Issue: Goldman Sachs prices $12.03 million 7.25% trigger notes exchangeable for Gap

New York, Feb. 2 - The Goldman Sachs Group Inc. priced $12.03 million of one-year 7.25% trigger notes mandatorily exchangeable for the common stock of The Gap Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Issuer:	Goldman Sachs Group Inc.
Underlying stock:	The Gap Inc.
Issue:	Trigger mandatory exchangeable medium-term notes
Amount:	$12.031 million
Maturity:	Feb. 6, 2006
Coupon:	7.25%, payable monthly
Price:	Par of $22.28
Payout at maturity:	1 share of Gap stock per $22.28 principal amount, capped at $24.508 or 110% above initial stock price of $22.28, in cash or stock at Goldman's option; if market price does not fall below threshold price then payout has a floor of par, in cash or stock at Goldman's option
Threshold price:	$24.1969, 70% of initial price of $22.28
Call:	Non-callable
Pricing date:	Jan. 27
Settlement date:	Feb. 3

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