New Issue: Goldman prices $11.562 million 2% 10-year exchangeables linked to Sun at 2%, up 46%

New York, April 8 - The Goldman Sachs Group, Inc. sold $11.562 million of 2% exchangeable 10-year notes linked to the common stock of Sun Microsystems, Inc., according to a filing with the Securities and Exchange Commission. The initial exchange premium was 46% over the $9.51 closing price of Sun stock on April 1.

At maturity, the notes pay par in cash unless the holder exercises the exchange right, the notes are called or an automatic exchange occurs. Automatic exchanges may occur in the event of a call or at maturity if the stock would be worth more than par plus accrued interest. The notes pay in cash, not stock.

The exchangeables were sold from Goldman's medium-term note program on April 1 via underwriter Goldman, Sachs & Co.

Issuer:	The Goldman Sachs Group, Inc.
Amount:	$11.562 million
Maturity:	April 8, 2012
Coupon:	2% payable semi-annually beginning Oct. 8, 2002
Price:	Par
Exchange price:	$13.883
Initial exchange premium:	46%
Exchange ratio:	72.029 shares per $1,000 principal amount, payable in cash
Call:	April 8, 2004 onwards at par
Settlement:	April 8
Cusip:	38141GCB8

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