Obligation Goldman & Sachs 1.463% ( US38143CBQ33 ) en USD

Goldman & Sachs

100 % ▼

Etas-Unis

US38143CBQ33 ( en USD )

1.463% par an ( paiement semestriel )

15/03/2023 - Obligation échue

Prospectus brochure de l'obligation Goldman Sachs US38143CBQ33 en USD 1.463%, échue

1 000 USD

8 406 000 USD

38143CBQ3

BBB+ ( Qualité moyenne inférieure )

N/A

Goldman Sachs est une banque d'investissement multinationale américaine offrant des services financiers tels que la banque d'investissement, la gestion d'actifs, la gestion de patrimoine et la vente et négociation de titres.

L'obligation de type obligataire identifiée par le code ISIN US38143CBQ33 (code CUSIP : 38143CBQ3) a été émise par Goldman Sachs, une institution financière mondiale de premier plan, basée aux États-Unis et reconnue pour son expertise dans les services bancaires d'investissement, de gestion d'actifs et de valeurs mobilières. Cette émission, libellée en dollars américains (USD), affichait une taille totale de 8 406 000 USD, avec un montant minimal d'achat fixé à 1 000 USD. Dotée d'un taux d'intérêt fixe de 1,463% et de paiements d'intérêts semi-annuels (fréquence de paiement : 2), l'obligation est arrivée à maturité le 15 mars 2023 et a été intégralement remboursée à 100% de sa valeur nominale. Sa solvabilité était attestée par une notation BBB+ attribuée par l'agence Standard & Poor's (S&P).

Pricing Supplement No. 2031 dated March 1, 2013.
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424B2 1 d496415d424b2.htm PRICING SUPPLEMENT NO. 2031 DATED MARCH 1, 2013.
Table of Contents
Filed Pursuant to Rule 424(b)(2)
Registration Statement No. 333-176914
Pricing Supplement to the Prospectus dated September 19, 2011 and
the Prospectus Supplement dated September 19, 2011 -- No. 2031

The Goldman Sachs Group, Inc.
Floating Rate Notes due 2023
Medium-Term Notes, Series D
$8,406,000

We wil pay you interest on your notes on a quarterly basis on March 15, June 15, September 15 and December 15 of each year. The first such
payment wil be made on June 15, 2013. The interest rate for each interest period wil be a rate equal to 3-month U.S. dol ar LIBOR plus 1.15% per
annum, reset quarterly, as described in the prospectus supplement dated September 19, 2011 and this pricing supplement.
If requested, we wil redeem the notes prior to their stated maturity date upon the death of a beneficial owner who has owned the notes for at
least six months. We cal this feature the survivor's option. The survivor's option is subject to a limit of $250,000 on the permitted principal amount
exercisable by the estate of the deceased beneficial owner in any calendar year and to a limit of two percent of the principal amount of all outstanding
notes offered by this pricing supplement in any calendar year. We may waive those limits in our discretion. Any notes accepted for repayment through
the exercise of the survivor's option wil be repaid on the first interest payment date that occurs 60 or more calendar days after the date of acceptance.
A valid redemption request requires the representative of the deceased beneficial owner to provide the information described on page PS-7 to
the Trustee, together with a properly completed redemption request in the form of Appendix A to this pricing supplement. See "Additional Information
About the Notes Survivor's Option to Request Repayment" on page PS-5 for more information.

Per Note

Total

Initial price to public
100.00%

$8,406,000.00
Underwriting discount
2.25%

$189,135.00

Proceeds, before expenses, to The Goldman Sachs Group, Inc.
97.75%

$8,216,865.00
The initial price to public set forth above does not include accrued interest, if any. Interest on the notes wil accrue from the Original Issue Date
and must be paid by the purchaser if the notes are delivered after the Original Issue Date.
In addition to offers and sales at the initial price to public, the notes may be offered and sold from time to time by the underwriters in one or more
transactions at market prices prevailing at the time of sale, at prices related to market prices or at negotiated prices.
Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of these securities or
passed upon the accuracy or adequacy of this pricing supplement, the accompanying prospectus supplement or the accompanying
prospectus. Any representation to the contrary is a criminal offense. The notes are not bank deposits and are not insured by the Federal
Deposit Insurance Corporation or any other governmental agency, nor are they obligations of, or guaranteed by, a bank.
Goldman Sachs may use this pricing supplement, the accompanying prospectus supplement and the accompanying prospectus in the initial sale
of the notes. In addition, Goldman, Sachs & Co. or any other affiliate of Goldman Sachs may use this pricing supplement, the accompanying prospectus
supplement and the accompanying prospectus in a market-making transaction in the notes after their initial sale. Unless Goldman Sachs or its agent
informs the purchaser otherwise in the confirmation of sale, this pricing supplement, the accompanying prospectus supplement and the
accompanying prospectus are being used in a market-making transaction.

Goldman, Sachs & Co.
Incapital LLC

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SPECIFIC TERMS OF THE NOTES

Please note that in this section entitled "Specific Terms of the Notes", references to "The Goldman Sachs Group, Inc.", "we", "our" and "us" mean
only The Goldman Sachs Group, Inc. and do not include its consolidated subsidiaries. Also, in this section, references to "holders" mean The
Depository Trust Company (DTC) or its nominee and not indirect owners who own beneficial interests in notes through participants in DTC. Please
review the special considerations that apply to indirect owners in the accompanying prospectus, under "Legal Ownership and Book-Entry
Issuance".
This pricing supplement no. 2031, dated March 1, 2013 (pricing supplement) and the accompanying prospectus dated September 19, 2011
(accompanying prospectus), relating to the notes, should be read together. Because the notes are part of a series of our debt securities called
Medium-Term Notes, Series D, this pricing supplement and the accompanying prospectus should also be read with the accompanying prospectus
supplement dated September 19, 2011 (accompanying prospectus supplement). Terms used but not defined in this pricing supplement have the
meanings given them in the accompanying prospectus or accompanying prospectus supplement, unless the context requires otherwise.
The notes are a separate tranche of our debt securities under our Medium-Term Notes, Series D program governed by our Senior Debt
Indenture, dated as of July 16, 2008 (2008 Indenture), between us and The Bank of New York Mel on, as trustee (Trustee). This pricing supplement
summarizes specific terms that wil apply to your notes. The terms of the notes described here supplement those described in the accompanying
prospectus supplement and accompanying prospectus and, if the terms described here are inconsistent with those described there, the terms
described here are control ing.
Terms of the Floating Rate Notes due 2023
Issuer: The Goldman Sachs Group, Inc.
Maximum rate: not applicable
Principal amount: $8,406,000
Minimum rate: not applicable
Specified currency: U.S. dol ars ("$")
Original issue discount (OID): not applicable
Type of Notes: Floating rate notes (notes)
Interest payment dates: March 15, June 15, September 15 and
December 15 of each year, commencing on June 15, 2013, subject to
Denominations: $1,000 and integral multiples of $1,000
adjustment under the applicable business day convention specified
Trade date: March 1, 2013
below
Original issue date: March 6, 2013
Interest reset dates: March 15, June 15, September 15 and
December 15 of each year, commencing on June 15, 2013, subject to
Stated maturity date: March 15, 2023
adjustment under the applicable business day convention specified
below
Interest rate: a rate per annum equal to the base rate plus the spread;
for the initial interest period, the base rate shall be the initial base rate
Interest determination date: the second London business day
preceding the interest reset date
Base rate: LIBOR (as described in the accompanying prospectus
supplement under "Description of Notes We May Offer -- Interest Rates
Regular record dates: for interest due on an interest payment date, the
-- LIBOR Notes")
day immediately prior to such interest payment date (as such interest
payment date may be adjusted under the applicable business day
Reuters screen LIBOR page: LIBOR01
convention specified below)
Index maturity: 3 months
Day count convention: Actual/360 (ISDA)
Index currency: U.S. dol ar
Business days: London and New York
Spread: 1.15% per annum
Spread multiplier: not applicable
Initial base rate: LIBOR in effect on March 4, 2013

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Business day convention: modified fol owing; applicable to interest
lending rate applicable to them in order to profit on their derivatives
payment dates and interest reset dates
positions or to avoid an appearance of capital insufficiency or adverse
reputational or other consequences that may have resulted from
Redemption at option of issuer before stated maturity: not
reporting inter-bank lending rates higher than those they actually
applicable
submitted. At least one BBA member bank has entered into a settlement
Survivor's option to request repayment: the notes are subject to
with a number of its regulators and law enforcement agencies with
repayment prior to the stated maturity upon the death of a beneficial
respect to alleged manipulation of LIBOR, and investigations by
owner who owned the notes for at least six months, if requested, subject
regulators and governmental authorities in various jurisdictions are
to certain limitations, as described under "Additional Information About
ongoing. In addition, there have been allegations that member banks
the Notes Survivor's Option to Request Repayment"
may have manipulated other inter-bank lending rates, such as
EURIBOR. If manipulation of LIBOR or another inter-bank lending rate
Listing: None
occurred, it may have resulted in that rate being artificial y lower (or
higher) than it would otherwise have been. Any such manipulation could
ERISA: as described under "Employee Retirement Income Security Act"
have occurred over a substantial period of time.
on page 138 of the accompanying prospectus
Fol owing a review of LIBOR conducted at the request of the U.K.
CUSIP no: 38143CBQ3
Government, on September 28, 2012, Martin Wheatley (Managing
Form of notes: Your notes wil be issued in book-entry form and
Director of the U.K. Financial Services Authority (the "FSA") and Chief
represented by a master global note.
Executive-designate of the Financial Conduct Authority) published
recommendations for reforming the setting and governing of LIBOR (the
You should read the section "Legal Ownership and Book-Entry Issuance"
"Wheatley Review"). The Wheatley Review made a number of
in the accompanying prospectus for more information about notes issued
recommendations for changes with respect to LIBOR including the
in book-entry form
introduction of statutory regulation of LIBOR, the transfer of
responsibility for LIBOR from the BBA to an independent administrator,
Defeasance applies as follows: not applicable
changes to the method of compilation of lending rates and new
ful defeasance -- i.e., our right to be relieved of all our obligations
regulatory oversight and enforcement mechanisms for rate-setting and
on the note by placing funds in trust for the holder:
reduction in the number of currencies and tenors for which LIBOR is
published. On December 5, 2012, the FSA published a consultation
covenant defeasance -- i.e., our right to be relieved of specified
paper (the "FSA Paper") based on the recommendations in the
provisions of the note by placing funds in trust for the holder:
Wheatley Review for public comment, setting forth its proposals for the
regulation of both the administration of, and submission of rates to,
Calculation agent: The Bank of New York Mel on
LIBOR. The proposals include requirements that (1) an independent
FDIC: The notes are not bank deposits and are not insured by the
LIBOR administrator corroborate submissions and monitor for any
Federal Deposit Insurance Corporation or any other governmental
suspicious activity and (2) firms submitting data to LIBOR have in place
agency, nor are they obligations of, or guaranteed by, a bank.
a clear conflicts of interest policy and appropriate systems and controls.
The FSA indicated it expects to publish the corresponding final
Additional Information About LIBOR: Beginning in 2008, concerns
regulations in March 2013.
have been raised that some of the member banks surveyed by the
British Bankers' Association (the "BBA") in connection with the
At this time, it is not possible to predict the effect of any changes in the
calculation of LIBOR across a range of maturities and currencies may
methods pursuant to which LIBOR is determined and any other reforms
have been under-reporting or otherwise manipulating the inter-bank
to LIBOR that wil be enacted in the U.K. and elsewhere. Any such
changes or reforms to LIBOR may result in a sudden or prolonged
increase or decrease in reported LIBOR, which could have an adverse
impact on the value of

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your notes and the amount of any interest paid thereunder. In addition,
current trading market for LIBOR-based securities and the value of your
uncertainty as to the extent and mechanism by which the
notes.
recommendations wil be adopted and the timing of such changes may
adversely affect the

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ADDITIONAL INFORMATION ABOUT THE NOTES
Book-Entry System
We wil issue the notes as a master global note registered in the name of DTC, or its nominee. The sale of the notes wil settle in immediately
available funds through DTC. You wil not be permitted to withdraw the notes from DTC except in the limited situations described in the accompanying
prospectus under "Legal Ownership and Book-Entry Issuance -- What Is a Global Security? -- Holder's Option to Obtain a Non-Global Security;
Special Situations When a Global Security Wil Be Terminated". Investors may hold interests in a master global note through organizations that
participate, directly or indirectly, in the DTC system.
In addition to this pricing supplement, the fol owing provisions are hereby incorporated into the global master note: the description of the
Actual/360 (ISDA) day count convention appearing under "Description of Notes We May Offer Interest Rates Floating Rate Notes" in the
accompanying prospectus supplement, the descriptions of New York business day and London business day appearing under "Description of Debt
Securities We May Offer Payment Mechanics for Debt Securities Business Days" in the accompanying prospectus, the description of the modified
fol owing business day convention appearing under "Description of Debt Securities We May Offer Payment Mechanics for Debt Securities Business
Day Conventions" in the accompanying prospectus.
Survivor's Option to Request Repayment
Fol owing the death of the beneficial owner of a note, so long as that note was owned by that beneficial owner or the estate of that beneficial
owner for at least six months prior to the request, if requested by the authorized representative of the beneficial owner of that note (subject to the
limitations described below), we agree to redeem any notes prior to the stated maturity unless the notes:

·
have been previously redeemed or otherwise repaid, or

·
have been declared due and payable before their stated maturity by reason of an event of default under the 2008 Indenture, as more ful y

described in the accompanying prospectus under "Description of Debt Securities We May Offer -- Default, Remedies and Waiver of
Default".
Upon the valid exercise of the option to request repayment described in the preceding paragraph (Survivor's Option) and the proper tender of that
note for repayment (subject to the limitations described below), we wil redeem that note, in whole or in part (but in amounts of not less than $1,000), at
a price equal to 100% of the principal amount of the note plus any unpaid interest accrued to (but excluding) the date of repayment.
Incapital LLC has advised that it intends to make a market in the notes. Depending on market conditions, including changes in interest rates, and
our creditworthiness, the value of the notes may be greater than their principal amount plus any unpaid interest accrued. Accordingly, the authorized
representative should contact Incapital LLC to determine the market price of the notes and should otherwise carefully consider whether to
sell the notes to Incapital LLC or another market participant rather than redeeming the notes at the principal amount plus accrued interest
pursuant to a request for redemption.
To be valid, the Survivor's Option must be exercised by or on behalf of the person who has:

·
authority to act on behalf of the deceased beneficial owner of the note, including, without limitation, the personal representative or executor

of the deceased beneficial owner or the surviving joint owner with the deceased beneficial owner, under the laws of the applicable
jurisdiction, and

·
the right to sel , transfer or otherwise dispose of an interest in a note and the right to receive the proceeds from the note, as wel as the

principal and interest payable to the holder of the note.
The fol owing wil be deemed the death of a beneficial owner of a note, and the entire principal amount of the note so held wil be subject to
redemption by us upon request (with the limitations described below):

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·
death of a person holding a beneficial ownership interest in a note as a joint tenant or tenant by the entirety with another person, a tenant in

common with the deceased holder's spouse or a tenant in common with a person other than such deceased person's spouse;

·
death of a person who at the time of his or her death was a beneficiary of a revocable or irrevocable trust that holds a beneficial ownership

interest in a note may, in the discretion of the Trustee, be deemed the death of a beneficial owner of that note, if such beneficial trust
interest can be established to the satisfaction of us and the Trustee; and

·
death of a person who, at the time of his or her death, was entitled to substantial y al of the beneficial ownership interests in a note

regardless of whether that beneficial owner was the registered holder of that note, if entitlement to those interests can be established to
the satisfaction of us and the Trustee.
In addition, a beneficial ownership interest wil be deemed to exist:

·
in typical cases of nominee ownership, ownership under the Uniform Transfers to Minors Act or Uniform Gifts to Minors Act, community

property or other joint ownership arrangements between a husband and wife; and

·
in custodial and trust arrangements where one person has all of the beneficial ownership interests in the applicable note at the time of his

or her death.
We have the discretionary right to limit the aggregate principal amount of notes as to which exercises of the Survivor's Option shall be accepted
by us from authorized representatives:

·
of all deceased beneficial owners in any calendar year to an amount equal to 2% of the principal amount of al outstanding notes offered by

this pricing supplement as of the end of the most recent calendar year (two percent aggregate limitation); and

·
of any individual deceased beneficial owner of notes to $250,000 in any calendar year ($250,000 limitation).
In addition, we wil not permit the exercise of the Survivor's Option except in principal amounts of $1,000 and integral multiples of $1,000 in
excess thereof.
We may, at our option and pursuant to the exercise of the Survivor's Option, redeem interests of any deceased beneficial owner in the notes in
any calendar year in excess of the $250,000 limitation. Any optional redemption by us of this kind, to the extent it exceeds the $250,000 limitation for
any deceased beneficial owner, wil not be included in the computation of the two percent aggregate limitation for redemption of the notes for that or
any other calendar year.
We may also, at our option and pursuant to the exercise of the Survivor's Option, redeem interests of deceased beneficial owners in the notes in
any calendar year in an aggregate principal amount exceeding the two percent aggregate limitation. Any optional redemption by us of this kind, to the
extent it exceeds the two percent aggregate limitation, wil not be considered in calculating the two percent aggregate limitation for any other calendar
year.
Furthermore, any optional redemption with respect to a deceased beneficial owner's interest in the notes is inapplicable with respect to any other
deceased beneficial owner's interest in the notes. In other words, we may waive any applicable limitations with respect to a deceased beneficial owner
but not make the same or similar waivers with respect to other deceased beneficial owners.
Each election to exercise the Survivor's Option wil be accepted in the order that elections are received by the Trustee, except for any note the
acceptance of which would contravene either the two percent aggregate limitation or the $250,000 limitation. Upon any determination by us to redeem
notes in excess of the $250,000 limitation or the two percent aggregate limitation, notes wil be redeemed in the order of receipt of redemption
requests by the Trustee. Each tendered note that is not accepted in any calendar year due to the application of either the two percent aggregate
limitation or the $250,000 limitation wil be deemed to be tendered in the fol owing calendar year in the order in which al such notes were originally
tendered.

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Notes accepted for repayment through the exercise of the Survivor's Option wil be redeemed on the first interest payment date that occurs 60 or
more calendar days after the date of the acceptance. For example, if the acceptance date of a note tendered through a valid exercise of the Survivor's
Option is December 1, 2014, interest on the notes is paid quarterly on March 15, June 15, September 15 and December 15, we would normal y, at our
option, repay that note on the interest payment date occurring on March 15, 2015 because the December 15, 2014 interest payment date would occur
less than 60 days from the date of acceptance. Any redemption request may be withdrawn by the person(s) presenting the request upon delivery of a
written request for withdrawal given by the participant on behalf of the person(s) to the Trustee not less than 30 days before the redemption date. If a
note tendered through a valid exercise of the Survivor's Option is not accepted, the Trustee wil deliver a notice by first-class mail to the participant
through whom the note was tendered that states the reason that note has not been accepted for redemption.
With respect to notes represented by a master global note (such as these notes), DTC or its nominee is the depositary and is treated as the
holder of the notes and the institution that has an account with the depositary of the notes is referred to as the "participant".
To obtain redemption pursuant to exercise of the Survivor's Option for a note, the deceased beneficial owner's authorized representative must
provide the fol owing items to the participant in DTC through which the beneficial interest in the note is held by the deceased beneficial owner:

·
a written request for redemption signed by the authorized representative of the deceased beneficial owner with the signature guaranteed
by a member firm of a registered national securities exchange or of the Financial Institution Regulatory Authority, Inc. (FINRA) or a

commercial bank or trust company having an office or correspondent in the United States and a written instruction to notify the Trustee of
the authorized representative's desire to obtain redemption pursuant to exercise of the Survivor's Option;

·
appropriate evidence satisfactory to us and the Trustee:

(a)
that the deceased was the beneficial owner of the note at the time of death and his or her interest in the note was owned by the

deceased beneficial owner or his or her estate for at least six months prior to the request for redemption,

(b)
that the death of the beneficial owner has occurred,

(c)
of the date of death of the beneficial owner, and

(d)
that the representative has authority to act on behalf of the beneficial owner;

·
if applicable, a properly executed assignment or endorsement;

·
tax waivers and any other instruments or documents that we or the Trustee reasonably require in order to establish the validity of the

beneficial ownership of the note and the claimant's entitlement to payment;

·
any additional information we or the Trustee reasonably require to evidence satisfaction of any conditions to the exercise of the Survivor's

Option or to document beneficial ownership or authority to make the election and to cause the redemption of the note; and

·
if the interest in the note is held by a nominee of the deceased beneficial owner, a certificate satisfactory to us and the Trustee from the

nominee attesting to the deceased's beneficial ownership of such note.
After the representative provides the information to the participant, the participant wil then deliver each of these items to the Trustee, and to
Goldman, Sachs & Co. in its capacity as administrator of the Survivor's Option on our behalf, together with evidence satisfactory to us and the Trustee
from the participant stating that it represents the deceased beneficial owner. The participant wil then need to deliver to the Trustee a request for
redemption substantial y in the form attached as Appendix A to this pricing supplement.
Al questions regarding the eligibility or validity of any exercise of the Survivor's Option wil be determined by us, in our sole discretion, which
determination wil be final and binding on all parties.
Subject to arrangements with the depositary, payment for interests in the notes to be redeemed wil be made to the depositary in the aggregate
principal amount specified in the redemption requests submitted

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to the Trustee by the depositary that are to be fulfil ed in connection with the payment upon presentation of the notes to the Trustee for redemption.
Additional redemption request forms for the exercise of the Survivor's Option may be obtained from the Trustee at The Bank of New York Mel on
at 2001 Bryan Street, 9th Floor, Dal as, TX 75201, Attention: Survivor Options Processing, telephone: (800) 254-2826, fax: (241) 468-6405.
During any time in which the notes are not represented by a master global note and are issued in definitive form:

·
all references in this section of the pricing supplement to participants and the depositary, including the depositary's governing rules,

regulations and procedures, wil be deemed inapplicable;

·
all determinations that the participants are required to make as described in this section wil be made by us, including, without limitation,

determining whether the applicable decedent is in fact the beneficial owner of the interest in the notes to be redeemed or is in fact
deceased and whether the representative is duly authorized to request redemption on behalf of the applicable beneficial owner; and

·
all redemption requests, to be effective, must:

·
be delivered by the representative to the Trustee, with a copy to us;

·
if required by the Trustee and us, be in the form of the attached redemption request with appropriate changes mutual y agreed to by

the Trustee and us to reflect the fact that the redemption request is being executed by a representative, including provision for
signature guarantees; and

·
be accompanied by the note that is the subject of the redemption request or, if applicable, a properly executed assignment or
endorsement, in addition to all documents that are otherwise required to accompany a redemption request. If the record holder of

the note is a nominee of the deceased beneficial owner, a certificate or letter from the nominee attesting to the deceased's
ownership of a beneficial interest in the note must also be delivered.
Additional Disclosure About Our Relationship with the Trustee
The Bank of New York Mel on is initial y serving as trustee for the indenture under which the notes are being issued. Affiliates of the trustee have
underwritten our securities from time to time in the past and may underwrite our securities from time to time in the future. The trustee may have to
resign if a default occurs with respect to the notes within one year after any offering of our securities underwritten by an affiliate of the trustee, such as
BNY Mel on Capital Markets, LLC, since the trustee would likely be considered to have a conflicting interest for purposes of the Trust Indenture Act of
1939. In that event, except in very limited circumstances, the trustee would be required to resign as trustee under the indenture under which the notes
are being issued and we would be required to appoint a successor trustee, unless the default is cured or waived within 90 days. In addition, the trustee
can resign for any reason with 60 days notice, and we would be required to appoint a successor trustee. If the trustee resigns fol owing a default or for
any other reason, it may be difficult to identify and appoint a qualified successor trustee. The trustee wil remain the trustee under the indenture until a
successor is appointed. During the period of time until a successor is appointed, the trustee wil have both (a) duties to noteholders under the indenture
and (b) a conflicting interest under the indenture for purposes of the Trust Indenture Act. In the accompanying prospectus dated September 19, 2011
under "Our Relationship with the Trustee," we describe certain other circumstances in which the trustee may have to resign due to a conflict of interest.
United States Federal Income Tax Consequences
Please see the discussion under "United States Taxation" in the accompanying prospectus supplement and the accompanying prospectus. Final
regulations released by the U.S. Department of the Treasury on January 17, 2013 state that Foreign Account Tax Compliance Act (FATCA) withholding
(as described in "United States Taxation -- Taxation of Debt Securities -- Foreign Account Tax Compliance" in the accompanying prospectus) wil
general y not apply to obligations that are issued prior to January 1, 2014; therefore, the notes wil not be subject to FATCA withholding.

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SUPPLEMENTAL PLAN OF DISTRIBUTION
The Goldman Sachs Group, Inc. and the underwriters for this offering named below have entered into a terms agreement and a distribution
agreement with respect to the notes. Subject to certain conditions, each underwriter named below has several y agreed to purchase the principal
amount of notes indicated in the fol owing table.

Principal Amount
Underwriters
of the Notes
Goldman, Sachs & Co.
$ 4,203,000
Incapital LLC
$ 4,203,000

Total
$ 8,406,000

Notes sold by the underwriters to the public wil initial y be offered at the initial price to public set forth on the cover of this pricing supplement. The
underwriters intend to purchase the notes from The Goldman Sachs Group, Inc. at a purchase price equal to the initial price to public less a discount of
2.25%. Any notes sold by the underwriters to securities dealers may be sold at a discount from the initial price to public of up to 1.10% of the principal
amount of the notes. Any such securities dealers may resel any notes purchased from the underwriters to certain other brokers or dealers at a
discount from the initial price to public of up to 0.20% of the principal amount of the notes. If al of the offered notes are not sold at the initial price to
public, the underwriters may change the offering price and the other sel ing terms.
We have agreed to sel to the underwriters, and the underwriters have agreed to purchase from us, the aggregate face amount of notes specified
on the front cover of this pricing supplement. In addition to offers and sales at the initial price to public, the underwriters may offer the notes from time
to time for sale in one or more transactions at market prices prevailing at the time of sale, at prices related to market prices or at negotiated prices.
Please note that the information about the initial price to public and net proceeds to The Goldman Sachs Group, Inc. on the front cover page
relates only to the initial sale of the notes. If you have purchased a note in a market-making transaction by Goldman, Sachs & Co. or any other affiliate
of The Goldman Sachs Group, Inc. after the initial sale, information about the price and date of sale to you wil be provided in a separate confirmation
of sale.
Each underwriter has represented and agreed that it wil not offer or sel the notes in the United States or to United States persons except if such
offers or sales are made by or through FINRA member broker-dealers registered with the U.S. Securities and Exchange Commission.
The Goldman Sachs Group, Inc. estimates that its share of the total offering expenses, excluding underwriting discounts and commissions,
whether paid to Goldman, Sachs & Co. or any other underwriter, wil be approximately $114,470.
The provision regarding the market-making activities of Goldman, Sachs & Co. described under "Plan of Distribution-- Market-Making Resales by
Affiliates" on page 137 of the accompanying prospectus does not apply to the notes. Goldman, Sachs & Co. does not intend to make a market in these
notes. However, in the future, Goldman, Sachs & Co. or other affiliates of The Goldman Sachs Group, Inc. may decide to repurchase and resel the
notes in market-making transactions, with resales being made at prices related to prevailing market prices at the time of resale or at negotiated prices.
For more information about the plan of distribution and possible market-making activities, see "Plan of Distribution" in the accompanying prospectus and
"Supplemental Plan of Distribution" in the accompanying prospectus supplement.
The notes are a new issue of securities with no established trading market. The Goldman Sachs Group, Inc. has been advised by Incapital LLC
that they intend to make a market in the notes. Incapital LLC is not obligated to do so and may discontinue market-making at any time without notice.
No assurance can be given as to the liquidity of the trading market for the notes.
The Goldman Sachs Group, Inc. has agreed to indemnify the several underwriters against certain liabilities, including liabilities under the
Securities Act of 1933.

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Pricing Supplement No. 2031 dated March 1, 2013.
http://www.sec.gov/Archives/edgar/data/886982/000119312513091981/...
Table of Contents
Certain of the underwriters and their affiliates have in the past provided, and may in the future from time to time provide, investment banking and
general financing and banking services to The Goldman Sachs Group, Inc. and its affiliates, for which they have in the past received, and may in the
future receive, customary fees. The Goldman Sachs Group, Inc. and its affiliates have in the past provided, and may in the future from time to time
provide, similar services to the underwriters and their affiliates on customary terms and for customary fees. Goldman, Sachs & Co., one of the
underwriters, is an affiliate of The Goldman Sachs Group, Inc. Please see "Plan of Distribution-- Conflicts of Interest" on page 137 of the
accompanying prospectus.
VALIDITY OF THE NOTES
In the opinion of Sidley Austin LLP, as counsel to The Goldman Sachs Group, Inc., when the notes offered by this pricing supplement have been
executed and issued by The Goldman Sachs Group, Inc. and authenticated by the trustee pursuant to the indenture, and delivered against payment as
contemplated herein, such notes wil be valid and binding obligations of The Goldman Sachs Group, Inc., enforceable in accordance with their terms,
subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights generally, concepts of reasonableness and equitable principles of
general applicability (including, without limitation, concepts of good faith, fair dealing and the lack of bad faith), provided that such counsel expresses no
opinion as to the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above. This
opinion is given as of the date hereof and is limited to the Federal laws of the United States, the laws of the State of New York and the General
Corporation Law of the State of Delaware as in effect on the date hereof. In addition, this opinion is subject to customary assumptions about the
trustee's authorization, execution and delivery of the indenture and the genuineness of signatures and certain factual matters, al as stated in the letter
of such counsel dated September 19, 2011, which has been filed as Exhibit 5.5 to The Goldman Sachs Group, Inc.'s registration statement on Form
S-3 filed with the Securities and Exchange Commission on September 19, 2011.

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