<PAGE> 1
Filed pursuant to Rule 424(b)(3)
Registration Statement No. 333-75321
Prospectus Supplement No. 12 to the Prospectus dated May 18, 1999.
$250,000,000
THE GOLDMAN SACHS GROUP, INC.
Medium-Term Notes, Series B
------------------------
The note being purchased has the following terms:
PRINCIPAL AMOUNT: $250,000,000
STATED MATURITY: August 16, 2000
SPECIFIED CURRENCY: U.S. dollars
- principal: U.S. dollars
- interest: U.S. dollars
- exchange rate agent: not applicable
ORIGINAL ISSUE DATE: August 16, 1999
ORIGINAL ISSUE PRICE: 100%
NET PROCEEDS TO GOLDMAN SACHS: 99.85%
ORIGINAL ISSUE DISCOUNT NOTE: no
- total amount of OID:
- yield to maturity:
- initial accrual period OID:
FORM OF NOTE:
- master global form only: yes
- non-global form available: no
REDEMPTION AND REPAYMENT: not applicable
- redemption commencement date:
- repayment date(s):
- redemption or repayment price(s):
IF INTEREST RATE IS FIXED: not applicable
- annual rate:
- interest payment date(s):
- regular record date(s):
IF INTEREST RATE IS FLOATING:
- base rate:
the rate that appears on Telerate page 5 under the heading "Federal
Funds -- Open" on each interest reset date. If the rate described above
does not appear on Telerate page 5 on an interest reset date, the base
rate will be the arithmetic mean of the rates for the last transaction in
overnight, U.S. dollar federal funds arranged, before 9:00 A.M., New York
City time, on that interest reset date, by three leading brokers of U.S.
dollar federal funds transactions in New York City selected by the
calculation agent. If fewer than three brokers selected by the calculation
agent are quoting as described above, the base rate in effect for that
interest reset date will be the base rate in effect for the prior interest
reset date. If the initial base rate has been in effect for the prior
interest period, however, it will remain in effect for the new interest
period. The first business day prior to each interest payment date and
prior to maturity will also be an interest reset date.
- index maturity:
- spread: +33 basis points
- spread multiplier: none
- initial base rate: 5.25%
- maximum rate: none
- minimum rate: none
- interest reset dates: daily
- interest determination date: each interest reset date
- interest payment dates: November 16, 1999, February 16, 2000, May 16,
2000, and
August 16, 2000
- calculation agent: The Bank of New York
DEFEASANCE APPLIES AS FOLLOWS: not applicable
- full defeasance -- i.e., our right to be relieved of all our obligations
on the note by placing funds in trust for the investor:
- covenant defeasance -- i.e., our right to be relieved of specified
provisions of the note by placing funds in trust for the investor:
- ---------
The information above, if any, about the original issue date, original
issue price, net proceeds and original issue discount relates only to the
initial sale of the note. If the note is sold in a market-making transaction
after its initial sale, information about the price paid and the date of the
sale will be provided in a separate confirmation of sale. Please refer to the
attached prospectus for additional information about the note being purchased.
------------------------
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY
BODY HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ADEQUACY
OR ACCURACY OF THIS PROSPECTUS.
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
------------------------
Goldman Sachs may use this prospectus supplement in the initial sale of the
note. In addition, Goldman, Sachs & Co. or any other affiliate of Goldman Sachs
may use this prospectus supplement in a market-making transaction in the note
after its initial sale. UNLESS GOLDMAN SACHS OR ITS AGENT INFORMS THE PURCHASER
OTHERWISE IN THE CONFIRMATION OF SALE, THIS PROSPECTUS SUPPLEMENT IS BEING USED
IN A MARKET-MAKING TRANSACTION.
GOLDMAN, SACHS & CO.
------------------------
Prospectus Supplement dated August 10, 1999.
