Goldman Sachs Announces Pricing of Tender Offer for 6.345% Capital Securities of Goldman Sachs Capital I

  Goldman Sachs Announces Pricing of Tender Offer for 6.345% Capital
  Securities of Goldman Sachs Capital I

Business Wire

NEW YORK -- June 11, 2014

The Goldman Sachs Group, Inc. (NYSE:GS) today announced the pricing of its
previously announced tender offer (the “Tender Offer”) to purchase for cash
any and all of the outstanding $2,750,000,000 aggregate liquidation amount of
6.345% Capital Securities issued by Goldman Sachs Capital I, a statutory trust
organized under Delaware law for which The Goldman Sachs Group, Inc. is the
sponsor (the “Capital Securities”).

On May 29, 2014, The Goldman Sachs Group, Inc. commenced the Tender Offer to
purchase the Capital Securities in accordance with the terms and conditions
set forth in the Offer to Purchase, dated May 29, 2014, relating thereto (the
“Offer to Purchase”).

The key pricing details for the Tender Offer are as follows:

               Liquidation        Reference                   Fixed      Purchase
Target       Amount           US          Reference   Spread   Price^(1)
Security       Outstanding        Treasury      Yield^(1)     (bps)      (2) (3)
Capital                           3.625%
Securities                        U.S.
of Goldman     $2,750,000,000     Treasury      3.461%        +190       $1,118.63
Sachs                             Bond due
Capital I                         February
(CUSIP:                           15, 2044

        For each $1,000 liquidation amount of Capital Securities validly
        tendered and accepted, the holders will receive a price (the “Purchase
(1)   Price”) intended to result in a yield to maturity as of the tender
        settlement date equal to the sum of the yield to maturity of the
        Reference US Treasury Security as of 2:00 pm New York City time on
        June 11, 2014 (the “Reference Yield”) plus the Fixed Spread.
(2)     Per $1,000 liquidation amount validly tendered and accepted for
        purchase, as calculated in accordance with the Offer to Purchase.
        In addition to the Purchase Price, the holders whose Capital
(3)     Securities are accepted for purchase will receive accrued and unpaid
        distributions from the last distribution date to, but not including,
        the date on which such Capital Securities are purchased.

The Tender Offer is scheduled to expire at 5:00 p.m., New York City time, on
June 11, 2014, unless extended or earlier terminated by The Goldman Sachs
Group, Inc. (the “Expiration Time”). Tendered Capital Securities may be
withdrawn at any time at or prior to the Expiration Time. Holders must validly
tender and not validly withdraw their Capital Securities, and have their
Capital Securities accepted for purchase in the Tender Offer, at or prior to
the Expiration Time in order to be eligible to receive the Purchase Price.

The Tender Offer is conditioned upon the satisfaction of certain conditions
described in the Offer to Purchase.

The Goldman Sachs Group, Inc. has retained Goldman, Sachs & Co. to act as the
dealer manager (the “Dealer Manager”) for the Tender Offer. Global Bondholder
Services Corporation is acting as the Depositary and the Information Agent for
the Tender Offer. Questions regarding the Tender Offer should be directed to
Goldman, Sachs & Co. at (800) 828-3182 (toll-free) or (212) 902-5183
(collect). Requests for documentation should be directed to Global Bondholder
Services Corporation at (866) 470-3800 (toll-free) or (212) 430-3774

This announcement is for informational purposes only. This announcement is not
an offer to purchase or a solicitation of an offer to purchase with respect to
any Capital Securities. The Tender Offer is being made solely pursuant to the
Offer to Purchase and related documents. The Tender Offer is not being made to
holders of Capital Securities in any jurisdiction in which the making or
acceptance thereof would not be in compliance with the securities, blue sky or
other laws of such jurisdiction. In any jurisdiction in which the securities
laws or blue sky laws require the Tender Offer to be made by a licensed broker
or dealer, the Tender Offer will be deemed to be made on behalf of The Goldman
Sachs Group, Inc. by the Dealer Manager or one or more registered brokers or
dealers that are licensed under the laws of such jurisdiction.

Dealer Manager                Depositary and Information Agent
Goldman, Sachs & Co.             Global Bondholder Services Corporation
Liability Management Group       65 Broadway
200 West Street                  Suite 404
New York, NY 10282               New York, NY 10006
(212) 902-5183                   (212) 430-3774
(800) 828-3182                   (866) 470-3800

The Goldman Sachs Group, Inc. is a leading global investment banking,
securities and investment management firm that provides a wide range of
financial services to a substantial and diversified client base that includes
corporations, financial institutions, governments and high-net-worth
individuals. Founded in 1869, the firm is headquartered in New York and
maintains offices in all major financial centers around the world.


The Goldman Sachs Group, Inc.
Media Relations:
Jake Siewert, 212-902-5400
Investor Relations:
Dane E. Holmes, 212-902-0300
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