Obligation Goldman Sachs 0% ( US38148TJU43 ) en USD

Goldman Sachs

100 % ▼

Etas-Unis

US38148TJU43 ( en USD )

29/12/2023 - Obligation échue

Prospectus brochure de l'obligation Goldman Sachs US38148TJU43 en USD 0%, échue

1 000 USD

706 000 USD

38148TJU4

N/A

A2 ( Qualité moyenne supérieure )

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 émise par Goldman Sachs ( Etas-Unis ) , en USD, avec le code ISIN US38148TJU43, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 29/12/2023

L'Obligation émise par Goldman Sachs ( Etas-Unis ) , en USD, avec le code ISIN US38148TJU43, a été notée A2 ( Qualité moyenne supérieure ) par l'agence de notation Moody's.

424B2 1 form424b2.htm PRICING SUPPLEMENT NO. 4283 DATED DECEMBER 23, 2015
File d Pursua nt t o Rule 4 2 4 (b)(2 )
Re gist ra t ion St a t e m e nt N o. 3 3 3 -1 9 8 7 3 5
T he Goldm a n Sa c hs Group, I nc .

$706,000
Dow Jones Industrial AverageTM-Linked Notes due 2023

T he not e s do not be a r int e re st . The amount that you will be paid on your notes on the stated maturity date (December 29,
2023) is based on the performance of the Dow Jones Industrial AverageTM as measured from the trade date (December 23, 2015)
to and including the determination date (December 26, 2023). If the final index level on the determination date is greater than the
initial index level of 17,602.61, the return on your notes will be positive, subject to the maximum settlement amount of $1,720.00 for
each $1,000 face amount of your notes. I f t he fina l inde x le ve l is e qua l t o or le ss t ha n t he init ia l inde x le ve l, you
w ill re c e ive t he fa c e a m ount of your not e s.
To determine your payment at maturity, we will calculate the index return, which is the percentage increase or decrease in the final
index level from the initial index level. On the stated maturity date, for each $1,000 face amount of your notes you will receive an
amount in cash equal to:
?
if the index return is positive (the final index level is greater than the initial index level), the sum of (i) $1,000 plus (ii) the
product of (a) $1,000 times (b) the index return, subject to the maximum settlement amount; or
?
if the index return is zero or negative (the final index level is equal to or less than the initial index level), $1,000.
Y ou should re a d t he a ddit iona l disc losure he re in so t ha t you m a y be t t e r unde rst a nd t he t e rm s a nd risk s of
your inve st m e nt , inc luding our c re dit risk . Se e pa ge PS-1 1 . The estimated value of your notes at the time the
terms of your notes are set on the trade date is equal to approximately $922 per $1,000 face amount. For a discussion of
the estimated value and the price at which Goldman, Sachs & Co. would initially buy or sell your notes, if it makes a
market in the notes, see the following page.
Origina l issue da t e :
December 29, 2015
Origina l issue pric e :
100.00% of the face amount
U nde rw rit ing disc ount :
4.40% of the face amount
N e t proc e e ds t o t he
95.60% of the face amount
issue r:
N e it he r t he Se c urit ie s a nd Ex c ha nge Com m ission nor a ny ot he r re gula t ory body ha s a pprove d or
disa pprove d of t he se se c urit ie s or pa sse d upon t he a c c ura c y or a de qua c y of t his prospe c t us. Any
re pre se nt a t ion t o t he c ont ra ry is a c rim ina l offe nse . T he not e s a re not ba nk de posit s a nd a re not insure d by
t he Fe de ra l De posit I nsura nc e Corpora t ion or a ny ot he r gove rnm e nt a l a ge nc y, nor a re t he y obliga t ions of,
or gua ra nt e e d by, a ba nk .
Goldm a n, Sa c hs & Co.
Pricing Supplement No. 4283 dated December 23, 2015.
Table of Contents
The issue price, underwriting discount and net proceeds listed above relate to the notes we sell initially. We may decide to sell
additional notes after the date of this pricing supplement, at issue prices and with underwriting discounts and net proceeds that
differ from the amounts set forth above. The return (whether positive or negative) on your investment in notes will depend in part
on the issue price you pay for such notes.
Goldman Sachs may use this prospectus in the initial sale of the notes. In addition, Goldman, Sachs & Co. or any other affiliate of
Goldman Sachs may use this prospectus in a market-making transaction in a note after its initial sale. Unless Goldman Sachs or
its agent informs the purchaser otherwise in the confirmation of sale, this prospectus is being used in a market-making
transaction.

Est im a t e d V a lue of Y our N ot e s

The estimated value of your notes at the time the terms of your notes are set on the trade date (as determined by
reference to pricing models used by Goldman, Sachs & Co. (GS&Co.) and taking into account our credit spreads) is
equal to approximately $922 per $1,000 face amount, which is less than the original issue price. The value of your
notes at any time will reflect many factors and cannot be predicted; however, the price (not including GS&Co.'s
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customary bid and ask spreads) at which GS&Co. would initially buy or sell notes (if it makes a market, which it is not
obligated to do) and the value that GS&Co. will initially use for account statements and otherwise is equal to
approximately $960 per $1,000 face amount, which exceeds the estimated value of your notes as determined by
reference to these models. The amount of the excess will decline on a straight line basis over the period from the
trade date through December 23, 2016.

About Y our Prospe c t us

The notes are part of the Medium-Term Notes, Series D program of The Goldman Sachs Group, Inc. This prospectus includes
this pricing supplement and the accompanying documents listed below. This pricing supplement constitutes a supplement to
the documents listed below and should be read in conjunction with such documents:
? Product supplement no. 3141 dated September 15, 2014
? General terms supplement dated September 26, 2014
? Prospectus supplement dated September 15, 2014
? Prospectus dated September 15, 2014
The information in this pricing supplement supersedes any conflicting information in the documents listed above. In addition,
some of the terms or features described in the listed documents may not apply to your notes.
PS-2
Table of Contents

Dow J one s I ndust ria l Ave ra ge TM-Link e d N ot e s

due 2 0 2 3

I N V EST M EN T T H ESI S
·
For investors willing to forgo interest payments for the potential to earn any positive return of the underlier, up to a maximum payment of 172.00% of
the face amount
DET ERM I N I N G T H E CASH SET T LEM EN T AM OU N T
At maturity, for each $1,000 face amount, the investor will receive (in each case as a percentage of the face amount):
·
If the final underlier level is above 100.00% of its initial level, 100.00% plus the underlier return, subject to a maximum of 172.00%
·
If the final underlier level is at or below its initial level, 100.00%
K EY T ERM S

I ssue r:
The Goldman Sachs Group, Inc.
U nde rlie r:
The Dow Jones Industrial AverageTM (Bloomberg symbol, "INDU Index")
Fa c e Am ount :
$706,000 in the aggregate; each note will have a face amount equal to $1,000
T ra de Da t e :
December 23, 2015
Se t t le m e nt Da t e :
December 29, 2015
De t e rm ina t ion Da t e :
December 26, 2023
St a t e d M a t urit y Da t e :
December 29, 2023
I nit ia l U nde rlie r Le ve l:
17,602.61
Fina l U nde rlie r Le ve l:
The closing level of the underlier on the determination date
U nde rlie r Re t urn:
The quotient of (i) the final underlier level minus the initial underlier level divided by (ii) the initial underlier level,
expressed as a positive or negative percentage.
U pside Pa rt ic ipa t ion Ra t e :
100.00%
M a x im um Se t t le m e nt Am ount :
$1,720.00
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Ca p Le ve l:
172.00% of the initial underlier level
CU SI P/I SI N :
38148TJU4 / US38148TJU43
H Y POT H ET I CAL PAY M EN T AT M AT U RI T Y

H ypot he t ic a l Ca sh
H ypot he t ic a l Fina l
Se t t le m e nt
U nde rlie r Le ve l (a s % of
Am ount (a s % of Fa c e
I nit ia l U nde rlie r Le ve l)
Am ount )

200.000%
172.000%

190.000%
172.000%

1 7 2 .0 0 0 %
1 7 2 .0 0 0 %

160.000%
160.000%

140.000%
140.000%

120.000%
120.000%

110.000%
110.000%

1 0 0 .0 0 0 %
1 0 0 .0 0 0 %

75.000%
100.000%

50.000%
100.000%

25.000%
100.000%

0 .0 0 0 %
1 0 0 .0 0 0 %

RI SK S
Please read the section entitled "Additional Risk Factors Specific to Your Notes" of this pricing supplement as well as the risks and considerations described in the accompanying
prospectus dated September 15, 2014, in the accompanying prospectus supplement dated September 15, 2014, under "Additional Risk Factors Specific to the Underlier-Linked Notes" in
the accompanying product supplement no. 3141 dated September 15, 2014, and under "Additional Risk Factors Specific to the Notes" in the accompanying general terms supplement
dated September 26, 2014.
PS-3
Table of Contents
SU M M ARY I N FORM AT I ON
We refer to the notes we are offering by this pricing supplement as the "offered notes" or the "notes". Each of the offered notes,
including your notes, has the terms described below. Please note that in this pricing supplement, 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, references to the "accompanying prospectus" mean the accompanying prospectus, dated September 15,
2014, as supplemented by the accompanying prospectus supplement, dated September 15, 2014, of The Goldman Sachs
Group, Inc. relating to the Medium-Term Notes, Series D program of The Goldman Sachs Group, Inc., references to the
"accompanying general terms supplement" mean the accompanying general terms supplement, dated September 26, 2014, of
The Goldman Sachs Group, Inc. and references to the "accompanying product supplement no. 3141" mean the accompanying
product supplement no. 3141, dated September 15, 2014, of The Goldman Sachs Group, Inc.
This section is meant as a summary and should be read in conjunction with the section entitled "General Terms of the
Underlier-Linked Notes" on page S-27 of the accompanying product supplement no. 3141 and "Supplemental Terms of the
Notes" on page S-13 of the accompanying general terms supplement. Please note that certain features, as noted below,
described in the accompanying product supplement no. 3141 and general terms supplement are not applicable to the notes.
This pricing supplement supersedes any conflicting provisions of the accompanying product supplement no. 3141 or the
accompanying general terms supplement.
K e y T e rm s
I ssue r: The Goldman Sachs Group, Inc.
U nde rlie r: the Dow Jones Industrial AverageTM (Bloomberg symbol, "INDU Index")
Spe c ifie d c urre nc y: U.S. dollars ("$")
T e rm s t o be spe c ifie d in a c c orda nc e w it h t he a c c om pa nying produc t supple m e nt no. 3 1 4 1 :
?
type of notes: notes linked to a single underlier
?
exchange rates: not applicable
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?
averaging dates: not applicable
?
redemption right or price dependent redemption right: not applicable
?
cap level: yes, as described below
?
downside participation percentage: not applicable
?
interest: not applicable
Fa c e a m ount : each note will have a face amount of $1,000; $706,000 in the aggregate for all the offered notes; the aggregate
face amount of the offered notes may be increased if the issuer, at its sole option, decides to sell an additional amount of the
offered notes on a date subsequent to the date of this pricing supplement
Purc ha se a t a m ount ot he r t ha n fa c e a m ount : the amount we will pay you at the stated maturity date for your notes will
not be adjusted based on the issue price you pay for your notes, so if you acquire notes at a premium (or discount) to face amount
and hold them to the stated maturity date, it could affect your investment in a number of ways. The return on your investment in
such notes will be lower (or higher) than it would have been had you purchased the notes at face amount. Also, the cap level would
be triggered at a lower (or higher) percentage return than indicated below, relative to your initial investment. See "Additional Risk
Factors Specific to Your Notes -- If You Purchase Your Notes at a Premium to Face Amount, the Return on Your Investment Will
Be Lower Than the Return on Notes Purchased at Face Amount and the Impact of Certain Key Terms of the Notes Will be
Negatively Affected" on page PS-13 of this pricing supplement.
Supple m e nt a l disc ussion of U .S. fe de ra l inc om e t a x c onse que nc e s: The notes will be treated as debt instruments
subject to the special rules governing contingent payment debt instruments for U.S. federal income tax purposes. Under this
treatment, it is the opinion of Sidley Austin LLP that if you are a U.S. individual or taxable entity, you generally should be required to
pay taxes on ordinary income from
PS-4
Table of Contents
the notes over their term based on the comparable yield for the notes. In addition, any gain you may recognize on the sale,
exchange or maturity of the notes will be taxed as ordinary interest income.
Ca sh se t t le m e nt a m ount (on t he st a t e d m a t urit y da t e ): for each $1,000 face amount of your notes, we will pay you on
the stated maturity date an amount in cash equal to:
?
if the final underlier level is greater than or equal to the cap level, the maximum settlement amount;
?
if the final underlier level is greater than the initial underlier level but less than the cap level, the sum of (1) $1,000 plus (2) the
product of (i) $1,000 times (ii) the upside participation rate times (iii) the underlier return; or
?
if the final underlier level is equal to or less than the initial underlier level, $1,000.
I nit ia l unde rlie r le ve l: 17,602.61
Fina l unde rlie r le ve l: the closing level of the underlier on the determination date, except in the limited circumstances described
under "Supplemental Terms of the Notes -- Consequences of a Market Disruption Event or a Non-Trading Day" on page S-19 of
the accompanying general terms supplement and subject to adjustment as provided under "Supplemental Terms of the Notes --
Discontinuance or Modification of an Underlier" on page S-23 of the accompanying general terms supplement
U nde rlie r re t urn: the quotient of (1) the final underlier level minus the initial underlier level divided by (2) the initial underlier
level, expressed as a percentage
U pside pa rt ic ipa t ion ra t e : 100.00%
Ca p le ve l: 172.00% of the initial underlier level
M a x im um se t t le m e nt a m ount : $1,720.00
T ra de da t e : December 23, 2015
Origina l issue da t e (se t t le m e nt da t e ): December 29, 2015
De t e rm ina t ion da t e : December 26, 2023, subject to adjustment as described under "Supplemental Terms of the Notes --
Determination Date" on page S-14 of the accompanying general terms supplement
St a t e d m a t urit y da t e : December 29, 2023, subject to adjustment as described under "Supplemental Terms of the Notes --
Stated Maturity Date" on page S-13 of the accompanying general terms supplement
N o int e re st : the offered notes do not bear interest
N o list ing: the offered notes will not be listed on any securities exchange or interdealer quotation system
N o re de m pt ion: the offered notes will not be subject to redemption right or price dependent redemption right
Closing le ve l: as described under "Supplemental Terms of the Notes -- Special Calculation Provisions -- Closing Level" on page
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S-27 of the accompanying general terms supplement
Busine ss da y: as described under "Supplemental Terms of the Notes -- Special Calculation Provisions -- Business Day" on
page S-27 of the accompanying general terms supplement
T ra ding da y: as described under "Supplemental Terms of the Notes -- Special Calculation Provisions -- Trading Day" on page
S-27 of the accompanying general terms supplement
U se of proc e e ds a nd he dging: as described under "Use of Proceeds" and "Hedging" on page S-31 of the accompanying
product supplement no. 3141
ERI SA: as described under "Employee Retirement Income Security Act" on page S-43 of the accompanying product supplement
no. 3141
Supple m e nt a l pla n of dist ribut ion; c onflic t s of int e re st : as described under "Supplemental Plan of Distribution" on page
S-44 of the accompanying product supplement no. 3141 and "Plan of Distribution Conflicts of Interest" on page 117 of the
accompanying prospectus; The Goldman Sachs Group, Inc. estimates that its share of the total offering expenses, excluding
underwriting discounts and commissions, will be approximately $10,000.
PS-5
Table of Contents
The Goldman Sachs Group, Inc. has agreed to sell to Goldman, Sachs & Co. ("GS&Co."), and GS&Co. has agreed to purchase
from The Goldman Sachs Group, Inc., the aggregate face amount of the offered notes specified on the front cover of this pricing
supplement. GS&Co. proposes initially to offer the notes to the public at the original issue prices set forth on the cover page of this
pricing supplement, and to certain securities dealers at such prices less a concession not in excess of 4.00% of the face amount.
GS&Co. is an affiliate of The Goldman Sachs Group, Inc. and, as such, will have a "conflict of interest" in this offering of notes
within the meaning of Financial Industry Regulatory Authority, Inc. (FINRA) Rule 5121. Consequently, this offering of notes will be
conducted in compliance with the provisions of FINRA Rule 5121. GS&Co. will not be permitted to sell notes in this offering to an
account over which it exercises discretionary authority without the prior specific written approval of the account holder.
We will deliver the notes against payment therefor in New York, New York on December 29, 2015, which is the third scheduled
business day following the date of this pricing supplement and of the pricing of the notes.
We have been advised by GS&Co. that it intends to make a market in the notes. However, neither GS&Co. nor any of our other
affiliates that makes a market is obligated to do so and any of them may stop doing so at any time without notice. No assurance
can be given as to the liquidity or trading market for the notes.
Ca lc ula t ion a ge nt : GS&Co.
CU SI P no.: 38148TJU4
I SI N no.: US38148TJU43
FDI C: 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
PS-6
Table of Contents
H Y POT H ET I CAL EX AM PLES
The following table and chart are provided for purposes of illustration only. They should not be taken as an indication or prediction
of future investment results and are intended merely 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.
The examples below are based on a range of final underlier levels that are entirely hypothetical; no one can predict what the
underlier level will be on any day throughout the life of your notes, and no one can predict what the final underlier level will be on
the determination date. The underlier has been highly volatile in the past -- meaning that the underlier level has changed
considerably in relatively short periods -- and its performance cannot be predicted for any future period.
The information in the following examples reflects hypothetical rates of return on the offered notes assuming that they are
purchased on the original issue date at the face amount and held to the stated maturity date. If you sell your notes in a secondary
market prior to the stated maturity date, your return will depend upon the market value of your notes at the time of sale, which may
be affected by a number of factors that are not reflected in the table below such as interest rates, the volatility of the underlier and
our creditworthiness. In addition, the estimated value of your notes at the time the terms of your notes are set on the trade date
(as determined by reference to pricing models used by GS&Co.) is less than the original issue price of your notes. For more
information on the estimated value of your notes, see "Additional Risk Factors Specific to Your Notes -- The Estimated Value of
Your Notes At the Time the Terms of Your Notes Are Set On the Trade Date (as Determined By Reference to Pricing Models Used
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By GS&Co.) Is Less Than the Original Issue Price Of Your Notes" on page PS-11 of this pricing supplement. The information in
the table also reflects the key terms and assumptions in the box below.
K e y T e rm s a nd Assum pt ions
Face amount
$1,000
Upside participation rate
100.00%
Cap level
172.00% of the initial underlier level
Maximum settlement amount
$1,720.00
Neither a market disruption event nor a non-trading day occurs on the originally scheduled determination date
No change in or affecting any of the underlier stocks or the method by which the underlier sponsor calculates the underlier
Notes purchased on original issue date at the face amount and held to the stated maturity date
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. For information about the historical levels of the underlier during recent periods, see "The Underlier --
Historical Closing Levels of the Underlier" below. Before investing in the offered notes, you should consult publicly available
information to determine the levels of the underlier between the date of this pricing supplement and the date of your purchase of
the offered notes.
Also, the hypothetical examples shown below do not take into account the effects of applicable taxes. Because of the U.S. tax
treatment applicable to your notes, tax liabilities could affect the after-tax rate of return on your notes to a comparatively greater
extent than the after-tax return on the underlier stocks.
The levels in the left column of the table below represent hypothetical final underlier levels and are expressed as percentages of
the initial underlier level. The amounts in the right column represent the hypothetical cash settlement amounts, based on the
corresponding hypothetical final underlier level (expressed as a percentage of the initial underlier level), and are expressed as
percentages of the face
PS-7
Table of Contents
amount of a note (rounded to the nearest one-thousandth of a percent). Thus, a hypothetical cash settlement amount of 100.000%
means that the value of the cash payment that we would deliver for each $1,000 of the outstanding face amount of the offered
notes on the stated maturity date would equal 100.000% of the face amount of a note, based on the corresponding hypothetical
final underlier level (expressed as a percentage of the initial underlier level) and the assumptions noted above.
H ypot he t ic a l Fina l U nde rlie r Le ve l
H ypot he t ic a l Ca sh Se t t le m e nt Am ount
(a s Pe rc e nt a ge of I nit ia l U nde rlie r Le ve l)
(a s Pe rc e nt a ge of Fa c e Am ount )
200.000%
172.000%
190.000%
172.000%
1 7 2 .0 0 0 %
1 7 2 .0 0 0 %
160.000%
160.000%
140.000%
140.000%
130.000%
130.000%
120.000%
120.000%
110.000%
110.000%
1 0 0 .0 0 0 %
1 0 0 .0 0 0 %
75.000%
100.000%
50.000%
100.000%
25.000%
100.000%
0 .0 0 0 %
1 0 0 .0 0 0 %
If, for example, the final underlier level were determined to be 25.000% of the initial underlier level, the cash settlement amount that
we would deliver on your notes at maturity would be 100.000% of the face amount of your notes, as shown in the table above. As
a result, if you purchased your notes on the original issue date at the face amount and held them to the stated maturity date, you
would receive no return on your investment. In addition, if the final underlier level were determined to be 200.000% of the initial
underlier level, the cash settlement amount that we would deliver on your notes at maturity would be capped at the maximum
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settlement amount (expressed as a percentage of the face amount), or 172.000% of each $1,000 face amount of your notes, as
shown in the table above. As a result, if you held your notes to the stated maturity date, you would not benefit from any increase
in the final underlier level over 172.000% of the initial underlier level.
The following chart also shows a graphical illustration of the hypothetical cash settlement amounts (expressed as a percentage of
the face amount of your notes) that we would pay on your notes on the stated maturity date, if the final underlier level (expressed
as a percentage of the initial underlier level) were any of the hypothetical levels shown on the horizontal axis. The chart shows that
any hypothetical final underlier level (expressed as a percentage of the initial underlier level) of less than 100.000% (the section left
of the 100.000% marker on the horizontal axis) would result in a hypothetical cash settlement amount of 100.000% of the face
amount of your notes. The chart also shows that any hypothetical final underlier level (expressed as a percentage of the initial
underlier level) of greater than or equal to 172.000% (the section right of the 172.000% marker on the horizontal axis) would result
in a capped return on your investment.
PS-8
Table of Contents
The cash settlement amounts shown above are entirely hypothetical; they are based on market prices for the underlier stocks that
may not be achieved on the determination date and on assumptions that may prove to be erroneous. The actual market value of
your notes on the stated maturity date or at any other time, including any time you may wish to sell your notes, may bear little
relation to the hypothetical cash settlement amounts shown above, and these amounts should not be viewed as an indication of the
financial return on an investment in the offered notes. The hypothetical cash settlement amounts on notes held to the stated
maturity date in the examples above assume you purchased your notes at their face amount and have not been adjusted to reflect
the actual issue price you pay for your notes. The return on your investment (whether positive or negative) in your notes will be
affected by the amount you pay for your notes. If you purchase your notes for a price other than the face amount, the return on
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your investment will differ from, and may be significantly lower than, the hypothetical returns suggested by the above examples.
Please read "Additional Risk Factors Specific to the Underlier-Linked Notes -- The Market Value of Your Notes May Be Influenced
by Many Unpredictable Factors" on page S-25 of the accompanying product supplement no. 3141.
Payments on the notes are economically equivalent to the amounts that would be paid on a combination of other instruments. 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). The
discussion in this paragraph does not modify or affect the terms of the notes or the U.S. federal income tax treatment of the notes,
as described elsewhere in this pricing supplement.
PS-9
Table of Contents
We cannot predict the actual final underlier level or what the market value of your notes will be on any particular trading day,

nor can we predict the relationship between the underlier level and the market value of your notes at any time prior to the
stated maturity date. The actual amount that you will receive at maturity and the rate of return on the offered notes will depend
on the actual final underlier level determined by the calculation agent as described above. Moreover, the assumptions on
which the hypothetical returns are based may turn out to be inaccurate. Consequently, the amount of cash to be paid in
respect of your notes on the stated maturity date may be very different from the information reflected in the table and chart
above.
PS-10
Table of Contents
ADDI T I ON AL RI SK FACT ORS SPECI FI C T O Y OU R N OT ES
An investment in your notes is subject to the risks described below, as well as the risks and considerations described in the

accompanying prospectus dated September 15, 2014, in the accompanying prospectus supplement dated September 15, 2014,
under "Additional Risk Factors Specific to the Notes" in the accompanying general terms supplement, and under "Additional
Risk Factors Specific to the Underlier-Linked Notes" in the accompanying product supplement no. 3141. You should carefully
review these risks and considerations as well as the terms of the notes described herein and in the accompanying prospectus,
dated September 15, 2014, as supplemented by the accompanying prospectus supplement, dated September 15, 2014, the
accompanying general terms supplement, dated September 26, 2014, and the accompanying product supplement no. 3141,
dated September 15, 2014, of The Goldman Sachs Group, Inc. Your notes are a riskier investment than ordinary debt
securities. Also, your notes are not equivalent to investing directly in the underlier stocks, i.e., the stocks comprising the
underlier to which your notes are linked. You should carefully consider whether the offered notes are suited to your particular
circumstances.
T he Est im a t e d V a lue of Y our N ot e s At t he T im e t he T e rm s of Y our N ot e s Are Se t On t he T ra de Da t e (a s
De t e rm ine d By Re fe re nc e t o Pric ing M ode ls U se d By GS& Co.) I s Le ss T ha n t he Origina l I ssue Pric e Of Y our
N ot e s
The original issue price for your notes exceeds the estimated value of your notes as of the time the terms of your notes are set on
the trade date, as determined by reference to GS&Co.'s pricing models and taking into account our credit spreads. Such estimated
value on the trade date is set forth above under "Estimated Value of Your Notes"; after the trade date, the estimated value as
determined by reference to these models will be affected by changes in market conditions, our creditworthiness and other relevant
factors. The price at which GS&Co. would initially buy or sell your notes (if GS&Co. makes a market, which it is not obligated to
do), and the value that GS&Co. will initially use for account statements and otherwise, also exceeds the estimated value of your
notes as determined by reference to these models. As agreed by GS&Co. and the distribution participants, the amount of this
excess will decline on a straight line basis over the period from the date hereof through the applicable date set forth above under
"Estimated Value of Your Notes". Thereafter, if GS&Co. buys or sells your notes it will do so at prices that reflect the estimated
value determined by reference to such pricing models at that time. The price at which GS&Co. will buy or sell your notes at any
time also will reflect its then current bid and ask spread for similar sized trades of structured notes.
In estimating the value of your notes as of the time the terms of your notes are set on the trade date, as disclosed above under
"Estimated Value of Your Notes", GS&Co.'s pricing models consider certain variables, including principally our credit spreads,
interest rates (forecasted, current and historical rates), volatility, price-sensitivity analysis and the time to maturity of the notes.
These pricing models are proprietary and rely in part on certain assumptions about future events, which may prove to be incorrect.
As a result, the actual value you would receive if you sold your notes in the secondary market, if any, to others may differ, perhaps
materially, from the estimated value of your notes determined by reference to our models due to, among other things, any
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differences in pricing models or assumptions used by others. See "Additional Risk Factors Specific to the Underlier-Linked Notes
-- The Market Value of Your Notes May Be Influenced by Many Unpredictable Factors" on page S-25 of the accompanying product
supplement no. 3141.
The difference between the estimated value of your notes as of the time the terms of your notes are set on the trade date and the
original issue price is a result of certain factors, including principally the underwriting discount and commissions, the expenses
incurred in creating, documenting and marketing the notes, and an estimate of the difference between the amounts we pay to
GS&Co. and the amounts GS&Co. pays to us in connection with your notes. We pay to GS&Co. amounts based on what we would
pay to holders of a non-structured note with a similar maturity. In return for such payment, GS&Co. pays to us the amounts we
owe under your notes.
In addition to the factors discussed above, the value and quoted price of your notes at any time will reflect many factors and
cannot be predicted. If GS&Co. makes a market in the notes, the price quoted by GS&Co. would reflect any changes in market
conditions and other relevant factors, including any
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deterioration in our creditworthiness or perceived creditworthiness. These changes may adversely affect the value of your notes,
including the price you may receive for your notes in any market making transaction. To the extent that GS&Co. makes a market in
the notes, the quoted price will reflect the estimated value determined by reference to GS&Co.'s pricing models at that time, plus or
minus its then current bid and ask spread for similar sized trades of structured notes (and subject to the declining excess amount
described above).
Furthermore, if you sell your notes, you will likely be charged a commission for secondary market transactions, or the price will
likely reflect a dealer discount. This commission or discount will further reduce the proceeds you would receive for your notes in a
secondary market sale.
There is no assurance that GS&Co. or any other party will be willing to purchase your notes at any price and, in this regard,
GS&Co. is not obligated to make a market in the notes. See "Additional Risk Factors Specific to the Underlier-Linked Notes --
Your Notes May Not Have an Active Trading Market" on page S-24 of the accompanying product supplement no. 3141.
T he N ot e s Are Subje c t t o t he Cre dit Risk of t he I ssue r
Although the return on the notes will be based on the performance of the underlier, the payment of any amount due on the notes is
subject to our credit risk. The notes are our unsecured obligations. Investors are dependent on our ability to pay all amounts due
on the notes, and therefore investors are subject to our credit risk and to changes in the market's view of our creditworthiness.
See "Description of the Notes We May Offer -- Information About Our Medium-Term Notes, Series D Program -- How the Notes
Rank Against Other Debt" on page S-4 of the accompanying prospectus supplement.
T he Am ount Pa ya ble on Y our N ot e s I s N ot Link e d t o t he Le ve l of t he U nde rlie r a t Any T im e Ot he r t ha n t he
De t e rm ina t ion Da t e
The final underlier level will be based on the closing level of the underlier on the determination date (subject to adjustment as
described elsewhere in this pricing supplement). Therefore, if the closing level of the underlier dropped precipitously on the
determination date, the cash settlement amount for your notes may be significantly less than it would have been had the cash
settlement amount been linked to the closing level of the underlier prior to such drop in the level of the underlier. Although the
actual level of the underlier on the stated maturity date or at other times during the life of your notes may be higher than the final
underlier level, you will not benefit from the closing level of the underlier at any time other than on the determination date.
Also, the market price of your notes prior to the stated maturity date may be significantly lower than the purchase price you pay for
your notes. Consequently, if you sell your notes before the stated maturity date, you may receive far less than the amount of your
investment in the notes.
Y our N ot e s Do N ot Be a r I nt e re st
You will not receive any interest payments on your notes. As a result, even if the cash settlement amount payable for your notes
on the stated maturity date exceeds the face amount of your notes, the overall return you earn on your notes may be less than you
would have earned by investing in a non-indexed debt security of comparable maturity that bears interest at a prevailing market
rate.
T he Pot e nt ia l for t he V a lue of Y our N ot e s t o I nc re a se Will Be Lim it e d
Your ability to participate in any change in the value of the underlier over the life of your notes will be limited because of the cap
level. The maximum settlement amount will limit the cash settlement amount you may receive for each of your notes at maturity,
no matter how much the level of the underlier may rise beyond the cap level over the life of your notes. Accordingly, the amount
payable for each of your notes may be significantly less than it would have been had you invested directly in the underlier.
Y ou H a ve N o Sha re holde r Right s or Right s t o Re c e ive Any U nde rlie r St oc k
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Investing in your notes will not make you a holder of any of the underlier stocks. Neither you nor any other holder or owner of your
notes will have any rights with respect to the underlier stocks, including voting rights, any right to receive dividends or other
distributions, any rights to make a claim against the underlier stocks or any other rights of a holder of the underlier stocks. Your
notes will be paid in cash and you will have no right to receive delivery of any underlier stocks.
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We M a y Se ll a n Addit iona l Aggre ga t e Fa c e Am ount of t he N ot e s a t a Diffe re nt I ssue Pric e
At our sole option, we may decide to sell an additional aggregate face amount of the notes subsequent to the date of this pricing
supplement. The issue price of the notes in the subsequent sale may differ substantially (higher or lower) from the original issue
price you paid as provided on the cover of this pricing supplement.
I f Y ou Purc ha se Y our N ot e s a t a Pre m ium t o Fa c e Am ount , t he Re t urn on Y our I nve st m e nt Will Be Low e r
T ha n t he Re t urn on N ot e s Purc ha se d a t Fa c e Am ount a nd t he I m pa c t of Ce rt a in K e y T e rm s of t he N ot e s Will
be N e ga t ive ly Affe c t e d
The cash settlement amount will not be adjusted based on the issue price you pay for the notes. If you purchase notes at a price
that differs from the face amount of the notes, then the return on your investment in such notes held to the stated maturity date will
differ from, and may be substantially less than, the return on notes purchased at face amount. If you purchase your notes at a
premium to face amount and hold them to the stated maturity date the return on your investment in the notes will be lower than it
would have been had you purchased the notes at face amount or a discount to face amount. In addition, the impact of the cap level
on the return on your investment will depend upon the price you pay for your notes relative to face amount. For example, if you
purchase your notes at a premium to face amount, the cap level will only permit a lower percentage increase in your investment in
the notes than would have been the case for notes purchased at face amount or a discount to face amount.
Y our N ot e s Will Be T re a t e d a s De bt I nst rum e nt s Subje c t t o Spe c ia l Rule s Gove rning Cont inge nt Pa ym e nt
De bt I nst rum e nt s for U .S. Fe de ra l I nc om e T a x Purpose s
The notes will be treated as debt instruments subject to special rules governing contingent payment debt instruments for U.S.
federal income tax purposes. If you are a U.S. individual or taxable entity, you generally will be required to pay taxes on ordinary
income from the notes over their term based on the comparable yield for the notes, even though you will not receive any payments
from us until maturity. This comparable yield is determined solely to calculate the amount on which you will be taxed prior to
maturity and is neither a prediction nor a guarantee of what the actual yield will be. In addition, any gain you may recognize on the
sale, exchange or maturity of the notes will be taxed as ordinary interest income. If you are a secondary purchaser of the notes, the
tax consequences to you may be different. Please see "Supplemental Discussion of Federal Income Tax Consequences" below for
a more detailed discussion. Please also consult your tax advisor concerning the U.S. federal income tax and any other applicable
tax consequences to you of owning your notes in your particular circumstances.
Fore ign Ac c ount T a x Com plia nc e Ac t (FAT CA) Wit hholding M a y Apply t o Pa ym e nt s on Y our N ot e s, I nc luding
a s a Re sult of t he Fa ilure of t he Ba nk or Brok e r T hrough Whic h Y ou H old t he N ot e s t o Provide I nform a t ion
t o T a x Aut horit ie s
Please see the discussion under "United States Taxation -- Taxation of Debt Securities -- Foreign Account Tax Compliance Act
(FATCA) Withholding" in the accompanying prospectus for a description of the applicability of FATCA to payments made on your
notes.
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T H E U N DERLI ER
The Dow Jones Industrial AverageTM, which we refer to as the DJIA®, is a price-weighted index composed of 30 common stocks
selected at the discretion of an Averages Committee comprised of the Managing Editor of The Wall Street Journal (the "WSJ"), the
head of Dow Jones Indexes research and the head of CME Group research. The Averages Committee was created in March 2010,
when Dow Jones Indexes became part of CME Group Index Services, LLC, a joint venture company owned 90% by CME Group
Inc. and 10% by Dow Jones & Company, Inc, which we refer to as Dow Jones®. Dow Jones® publishes The Wall Street Journal.
The Averages Committee selects the underlier components as the largest and leading stocks of the sectors that are representative
of the U.S. equity market. The underlier does not include producers of goods and services in the transportation and utilities
industries. The DJIA® is reported by Bloomberg under the ticker symbol "INDU <Index>". Dow Jones® is under no obligation to
continue to publish the DJIA® and may discontinue publication of the DJIA® at any time.
The top ten constituent stocks of the DJIA® as of December 18, 2015, by weight, are: The Goldman Sachs Group, Inc. (6.85%),
3M Company (5.73%), The Boeing Company (5.44%), International Business Machines Corporation (5.26%), The Home Depot, Inc.
(5.08%), NIKE, Inc. (5.01%), McDonald´s Corporation (4.55%), UnitedHealth Group Inc. (4.52%), Travelers Cos Inc/The (4.30%)
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