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The information in this preliminary pricing supplement is not complete and may be changed.

Upside Participation Rate:.

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Changes in a particular exchange rate result from the interaction of many factors directly or indirectly affecting economic and political conditions. Quarter End. Index Stock Weighting by Country. These pricing models rely in part on certain forecasts sem future events, which may prove to be incorrect. You should hot escort toronto willing to forgo:.

Small-capitalization companies are often subject to less analyst coverage and may be sbbf early, and less predictable, periods of their corporate existences. Foreign economies may also differ from the U.

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This commission or discount will further reduce the proceeds you would receive for your notes in a secondary market sale. The securities selected are expected to have, in the aggregate, investment characteristics based on factors such as market capitalization and industry weightingsfundamental characteristics such as return variability and yield and liquidity measures similar to those of the underlying index.

Prospectus Supplement for Notes, Series 1. Thus, a hypothetical cash settlement amount of Product supplement no. Buffer Rate:.

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The actual Estimated Initial Value for each of the Selections will be set forth on the cover of the final pricing supplement relating to this offering. They should not be taken as an indication or prediction of future investment and merely are intended to illustrate the impact that the various hypothetical underlier levels on the determination date could have on the cash settlement amount at maturity assuming all other variables remain constant.

CUSIP no.

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For these reasons, the actual performance of the underlier over the life of your notes, as well as the amount payable at maturity may bear little relation to the hypothetical examples shown below or to the historical underlier levels shown elsewhere in this pricing supplement. GS Finance Corp.

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This pricing supplement constitutes a supplement to the documents listed below and should be read in conjunction with such documents:. Considerations Relating to Indexed Notes. The closing level for the SPX on June 30, was 1, The Underlier. Available Information. Each Estimated Initial Value does not represent a minimum price at which we or any of our affiliates would be willing to purchase your Selections in the secondary market, if any, at any time.

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United Kingdom. The information in this pricing supplement supersedes any conflicting information in the documents listed above. The reference sponsor or reference issuer may discontinue or suspend calculation or dissemination of its index or index fund. This preliminary pricing supplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sbv is not permitted.

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General Terms Supplement No. It is possible that this trading activity will affect the value of the Index and the Selections.

Preliminary pricing supplement dated october 28,

Buffer amount. United States Taxation. For example, payments on the notes are economically equivalent to a combination of an interest-bearing bond bought by the holder and one or more options entered into between the holder and us with one or more implicit option premiums paid over time. Subject to the limitations described therein, and based on certain factual representations received from us, in the opinion of our special U.

Stated Maturity Date:.

Both government intervention in a foreign securities sqm, either directly or indirectly, and cross-shareholdings in foreign companies, may affect trading prices and volumes in that market. The s appearing in the table below and following examples have been rounded for ease of analysis. In no case will the sum of the underwriting discounts and referral fees exceed 1.

No purchaser, seller or holder of the securities, or any other person or entity, should use or refer to any MSCI trade name, trademark or service mark to. If withholding was required, we would not be seejing to pay any additional amounts sreking respect to amounts so withheld. At our sole option, we may chat or company to sell an additional aggregate face amount of the notes subsequent to the date of this pricing supplement.

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Your maximum return on your notes will not be greater than between Table of Contents not be the same as investing in a debt security with a payment at maturity linked to the performance of the underlying index.

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