EX-99 3 exhibit.htm EXHIBIT 99.2 GSR 2004-14     <TERMSHEET> - Price/Yield - 1A1

GSR 2004-14     <TERMSHEET> - Price/Yield - 1A1

   
        

Balance

$106,377,000.00

Delay

0

    

Coupon

L+32

Dated

11/25/2004

    

Settle

11/26/2004

First Payment

12/25/2004

    
        
        

Prepay

10 CPR

15 CPR

20 CPR

25 CPR

30 CPR

35 CPR

40 CPR

99-22

37

39

41

43

46

48

51

99-23

36

38

40

42

44

47

49

99-24

36

37

39

41

43

45

47

99-25

35

37

38

40

42

43

46

99-26

35

36

37

39

40

42

44

99-27

34

35

36

38

39

40

42

99-28

34

35

36

36

37

39

40

99-29

33

34

35

35

36

37

38

99-30

33

33

34

34

35

35

36

99-31

32

33

33

33

33

34

34

100-00

32

32

32

32

32

32

32

100-01

32

31

31

31

31

30

30

100-02

31

31

30

30

29

29

28

100-03

31

30

29

29

28

27

26

100-04

30

29

28

28

27

25

24

100-05

30

29

28

26

25

24

22

100-06

29

28

27

25

24

22

20

100-07

29

27

26

24

22

21

19

100-08

28

27

25

23

21

19

17

100-09

28

26

24

22

20

17

15

100-10

27

25

23

21

18

16

13

        

WAL

7.47

5.16

3.84

2.98

2.41

1.99

1.68

Principal Window

Dec04 - Sep22

Dec04 - Nov17

Dec04 - Nov14

Dec04 - Sep12

Dec04 - Apr11

Dec04 - Mar10

Dec04 - May09

Optional Redemption

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

        

LIBOR_1MO

2.1300

      

LIBOR_6MO

2.5400

      

LIBOR_1YR

2.8800

      

CMT_1YR

2.5400

      
        

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 2A1

   
        

Balance

$201,853,000.00

Delay

0

    

Coupon

L+33

Dated

11/25/2004

    

Settle

11/26/2004

First Payment

12/25/2004

    
        
        

Prepay

10 CPR

15 CPR

20 CPR

25 CPR

30 CPR

35 CPR

40 CPR

99-22

38

40

42

44

47

49

52

99-23

37

39

41

43

45

48

50

99-24

37

38

40

42

44

46

48

99-25

36

38

39

41

43

44

47

99-26

36

37

38

40

41

43

45

99-27

35

36

37

39

40

41

43

99-28

35

36

37

37

38

40

41

99-29

34

35

36

36

37

38

39

99-30

34

34

35

35

36

36

37

99-31

33

34

34

34

34

35

35

100-00

33

33

33

33

33

33

33

100-01

33

32

32

32

32

31

31

100-02

32

32

31

31

30

30

29

100-03

32

31

30

30

29

28

27

100-04

31

30

29

29

28

26

25

100-05

31

30

29

27

26

25

23

100-06

30

29

28

26

25

23

21

100-07

30

28

27

25

23

22

20

100-08

29

28

26

24

22

20

18

100-09

29

27

25

23

21

18

16

100-10

28

26

24

22

19

17

14

        

WAL

7.48

5.16

3.84

2.98

2.41

1.99

1.68

Principal Window

Dec04 - Sep22

Dec04 - Nov17

Dec04 - Nov14

Dec04 - Sep12

Dec04 - Apr11

Dec04 - Mar10

Dec04 - May09

Optional Redemption

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

        

LIBOR_1MO

2.1300

      

LIBOR_6MO

2.5400

      

LIBOR_1YR

2.8800

      

CMT_1YR

2.5400

      
        

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.








GSR 2004-14     <TERMSHEET> - Price/Yield - 3A1

    
         

Balance

$100,000,000.00

Delay

24

     

Coupon

3.89

Dated

11/1/2004

     

Settle

11/26/2004

First Payment

12/25/2004

     
         

Prepay

10 CPB

15 CPB

20 CPB

25 CPB

30 CPB

35 CPB

40 CPB

 

99-22

3.945

3.946

3.948

3.951

3.953

3.956

3.959

Yield

99-22

60

65

70

75

81

86

91

Spread

99-23

3.931

3.932

3.933

3.934

3.935

3.936

3.937

Yield

99-23

59

64

69

73

79

84

89

Spread

99-24

3.918

3.917

3.917

3.917

3.916

3.916

3.915

Yield

99-24

58

62

67

72

77

82

87

Spread

99-25

3.904

3.903

3.901

3.899

3.897

3.895

3.893

Yield

99-25

56

61

65

70

75

80

85

Spread

99-26

3.891

3.888

3.885

3.882

3.879

3.875

3.871

Yield

99-26

55

60

64

68

73

78

82

Spread

99-27

3.877

3.874

3.870

3.865

3.860

3.855

3.848

Yield

99-27

54

58

62

67

72

76

80

Spread

99-28

3.864

3.859

3.854

3.848

3.842

3.834

3.826

Yield

99-28

52

57

61

65

70

74

78

Spread

99-29

3.851

3.845

3.838

3.831

3.823

3.814

3.804

Yield

99-29

51

55

59

63

68

72

76

Spread

99-30

3.837

3.830

3.823

3.814

3.805

3.794

3.782

Yield

99-30

50

54

58

61

66

70

74

Spread

99-31

3.824

3.816

3.807

3.797

3.786

3.774

3.760

Yield

99-31

48

52

56

60

64

68

71

Spread

100-00

3.810

3.801

3.791

3.780

3.767

3.753

3.738

Yield

100-00

47

51

54

58

62

66

69

Spread

100-01

3.797

3.787

3.776

3.763

3.749

3.733

3.716

Yield

100-01

46

49

53

56

60

64

67

Spread

100-02

3.784

3.772

3.760

3.746

3.730

3.713

3.694

Yield

100-02

44

48

51

55

59

62

65

Spread

100-03

3.770

3.758

3.744

3.729

3.712

3.693

3.671

Yield

100-03

43

46

50

53

57

60

63

Spread

100-04

3.757

3.743

3.728

3.712

3.693

3.673

3.649

Yield

100-04

42

45

48

51

55

58

60

Spread

100-05

3.743

3.729

3.713

3.695

3.675

3.652

3.627

Yield

100-05

40

44

47

50

53

56

58

Spread

100-06

3.730

3.715

3.697

3.678

3.656

3.632

3.605

Yield

100-06

39

42

45

48

51

54

56

Spread

100-07

3.717

3.700

3.682

3.661

3.638

3.612

3.583

Yield

100-07

38

41

43

46

49

52

54

Spread

100-08

3.703

3.686

3.666

3.644

3.619

3.592

3.561

Yield

100-08

36

39

42

44

47

50

52

Spread

100-09

3.690

3.671

3.650

3.627

3.601

3.572

3.539

Yield

100-09

35

38

40

43

46

48

49

Spread

100-10

3.677

3.657

3.635

3.610

3.582

3.552

3.517

Yield

100-10

34

36

39

41

44

46

47

Spread

         

WAL

2.50

2.30

2.12

1.95

1.79

1.64

1.49

 

Principal Window

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

 

Optional Redemption

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

 
         

LIBOR_1MO

2.1300

       

LIBOR_6MO

2.5400

       

LIBOR_1YR

2.8800

       

CMT_1YR

2.5400

       
         

Swap

        

1YR

2YR

3YR

4YR

5YR

6YR

7YR

8YR

9YR

2.88

3.21626

3.46902

3.69292

3.88932

4.06147

4.21146

4.34225

4.457

         

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 3A2

     
          

Balance

$94,431,000.00

Delay

24

      

Coupon

4.551

Dated

11/1/2004

      

Settle

11/26/2004

First Payment

12/25/2004

      
          

Prepay

10 CPB

15 CPB

20 CPB

25 CPB

30 CPB

35 CPB

40 CPB

  

100-22

4.166

4.131

4.093

4.050

4.002

3.949

3.889

Yield

 

100-22

82

84

85

85

86

86

84

Spread

 

100-23

4.152

4.117

4.077

4.033

3.984

3.929

3.867

Yield

 

100-23

81

82

83

83

84

84

82

Spread

 

100-24

4.139

4.102

4.062

4.016

3.965

3.909

3.845

Yield

 

100-24

80

81

81

82

82

81

80

Spread

 

100-25

4.126

4.088

4.046

3.999

3.947

3.889

3.823

Yield

 

100-25

78

79

80

80

80

79

78

Spread

 

100-26

4.112

4.073

4.030

3.982

3.928

3.868

3.801

Yield

 

100-26

77

78

78

78

78

77

76

Spread

 

100-27

4.099

4.059

4.015

3.965

3.910

3.848

3.779

Yield

 

100-27

76

77

77

77

76

75

73

Spread

 

100-28

4.085

4.045

3.999

3.948

3.891

3.828

3.757

Yield

 

100-28

74

75

75

75

75

73

71

Spread

 

100-29

4.072

4.030

3.983

3.931

3.873

3.808

3.735

Yield

 

100-29

73

74

74

73

73

71

69

Spread

 

100-30

4.059

4.016

3.968

3.914

3.855

3.788

3.713

Yield

 

100-30

72

72

72

71

71

69

67

Spread

 

100-31

4.045

4.001

3.952

3.897

3.836

3.768

3.691

Yield

 

100-31

70

71

70

70

69

67

65

Spread

 

101-00

4.032

3.987

3.936

3.880

3.818

3.748

3.669

Yield

 

101-00

69

69

69

68

67

65

62

Spread

 

101-01

4.019

3.972

3.921

3.863

3.799

3.728

3.648

Yield

 

101-01

68

68

67

66

65

63

60

Spread

 

101-02

4.005

3.958

3.905

3.846

3.781

3.708

3.626

Yield

 

101-02

66

66

66

65

64

61

58

Spread

 

101-03

3.992

3.943

3.890

3.829

3.762

3.688

3.604

Yield

 

101-03

65

65

64

63

62

59

56

Spread

 

101-04

3.978

3.929

3.874

3.812

3.744

3.668

3.582

Yield

 

101-04

64

64

63

61

60

57

54

Spread

 

101-05

3.965

3.915

3.858

3.796

3.726

3.648

3.560

Yield

 

101-05

62

62

61

60

58

55

51

Spread

 

101-06

3.952

3.900

3.843

3.779

3.707

3.628

3.538

Yield

 

101-06

61

61

60

58

56

53

49

Spread

 

101-07

3.938

3.886

3.827

3.762

3.689

3.608

3.516

Yield

 

101-07

60

59

58

56

54

51

47

Spread

 

101-08

3.925

3.871

3.812

3.745

3.671

3.588

3.495

Yield

 

101-08

58

58

56

55

53

49

45

Spread

 

101-09

3.912

3.857

3.796

3.728

3.652

3.568

3.473

Yield

 

101-09

57

56

55

53

51

47

43

Spread

 

101-10

3.899

3.843

3.781

3.711

3.634

3.548

3.451

Yield

 

101-10

56

55

53

51

49

45

41

Spread

 
          

WAL

2.50

2.30

2.12

1.95

1.79

1.64

1.49

  

Principal Window

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

Dec04 - Oct07

  

Optional Redemption

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

  
          

LIBOR_1MO

2.1300

        

LIBOR_6MO

2.5400

        

LIBOR_1YR

2.8800

        

CMT_1YR

2.5400

        
          
          

Swap

         

1YR

2YR

3YR

4YR

5YR

6YR

7YR

8YR

9YR

10YR

2.88

3.21626

3.46902

3.69292

3.88932

4.06147

4.21146

4.34225

4.457

4.55904

          

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 5A1

     
          

Balance

$100,000,000.00

Delay

24

      

Coupon

4.42

Dated

11/1/2004

      

Settle

11/26/2004

First Payment

12/25/2004

      
          

Prepay

10 CPB

15 CPB

20 CPB

25 CPB

30 CPB

35 CPB

40 CPB

  

99-26

4.428

4.424

4.419

4.414

4.408

4.401

4.394

Yield

 

99-26

81

90

99

107

113

120

127

Spread

 

99-27

4.419

4.413

4.407

4.400

4.393

4.384

4.374

Yield

 

99-27

80

89

97

105

112

118

125

Spread

 

99-28

4.409

4.403

4.395

4.387

4.377

4.367

4.355

Yield

 

99-28

79

88

96

104

110

116

123

Spread

 

99-29

4.400

4.392

4.383

4.373

4.362

4.349

4.335

Yield

 

99-29

78

87

95

102

109

114

121

Spread

 

99-30

4.390

4.381

4.371

4.360

4.347

4.332

4.316

Yield

 

99-30

77

86

94

101

107

113

119

Spread

 

99-31

4.381

4.370

4.359

4.346

4.331

4.315

4.296

Yield

 

99-31

76

85

93

100

106

111

117

Spread

 

100-00

4.371

4.360

4.347

4.332

4.316

4.298

4.277

Yield

 

100-00

75

84

91

98

104

109

115

Spread

 

100-01

4.362

4.349

4.335

4.319

4.301

4.280

4.257

Yield

 

100-01

74

83

90

97

103

108

113

Spread

 

100-02

4.352

4.338

4.323

4.305

4.285

4.263

4.238

Yield

 

100-02

73

82

89

96

101

106

111

Spread

 

100-03

4.343

4.328

4.311

4.292

4.270

4.246

4.218

Yield

 

100-03

72

81

88

94

100

104

109

Spread

 

100-04

4.333

4.317

4.299

4.278

4.255

4.229

4.199

Yield

 

100-04

71

79

87

93

98

102

107

Spread

 

100-05

4.324

4.306

4.287

4.265

4.239

4.211

4.180

Yield

 

100-05

70

78

85

92

97

101

105

Spread

 

100-06

4.314

4.295

4.275

4.251

4.224

4.194

4.160

Yield

 

100-06

70

77

84

90

95

99

103

Spread

 

100-07

4.305

4.285

4.263

4.237

4.209

4.177

4.141

Yield

 

100-07

69

76

83

89

94

97

101

Spread

 

100-08

4.295

4.274

4.250

4.224

4.194

4.160

4.121

Yield

 

100-08

68

75

82

87

92

96

99

Spread

 

100-09

4.286

4.263

4.238

4.210

4.178

4.143

4.102

Yield

 

100-09

67

74

81

86

90

94

98

Spread

 

100-10

4.276

4.253

4.226

4.197

4.163

4.125

4.083

Yield

 

100-10

66

73

79

85

89

92

96

Spread

 

100-11

4.267

4.242

4.214

4.183

4.148

4.108

4.063

Yield

 

100-11

65

72

78

83

87

90

94

Spread

 

100-12

4.257

4.231

4.202

4.170

4.133

4.091

4.044

Yield

 

100-12

64

71

77

82

86

89

92

Spread

 

100-13

4.248

4.221

4.190

4.156

4.118

4.074

4.025

Yield

 

100-13

63

70

76

81

84

87

90

Spread

 

100-14

4.239

4.210

4.178

4.143

4.102

4.057

4.005

Yield

 

100-14

62

69

75

79

83

85

88

Spread

 
          

WAL

3.67

3.24

2.86

2.52

2.23

1.96

1.73

  

Principal Window

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

  

Optional Redemption

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

  
          

LIBOR_1MO

2.1300

        

LIBOR_6MO

2.5400

        

LIBOR_1YR

2.8800

        

CMT_1YR

2.5400

        
          
          

Swap

         

1YR

2YR

3YR

4YR

5YR

6YR

7YR

8YR

9YR

10YR

2.88

3.21626

3.46902

3.69292

3.88932

4.06147

4.21146

4.34225

4.457

4.55904

          

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 5A2

     
          

Balance

$92,218,000.00

Delay

24

      

Coupon

4.849 - Wac

Dated

11/1/2004

      

Settle

11/26/2004

First Payment

12/25/2004

      
          

Prepay

10 CPB

15 CPB

20 CPB

25 CPB

30 CPB

35 CPB

40 CPB

  

100-20

4.608

4.571

4.529

4.483

4.430

4.371

4.305

Yield

 

100-20

99

105

110

113

116

117

118

Spread

 

100-21

4.598

4.560

4.517

4.469

4.415

4.354

4.285

Yield

 

100-21

98

104

108

112

114

115

116

Spread

 

100-22

4.589

4.549

4.505

4.456

4.400

4.337

4.266

Yield

 

100-22

97

103

107

111

113

113

114

Spread

 

100-23

4.579

4.538

4.493

4.442

4.385

4.320

4.247

Yield

 

100-23

96

102

106

109

111

112

112

Spread

 

100-24

4.570

4.528

4.481

4.429

4.369

4.303

4.227

Yield

 

100-24

95

101

105

108

110

110

110

Spread

 

100-25

4.560

4.517

4.469

4.415

4.354

4.285

4.208

Yield

 

100-25

94

99

104

107

108

108

108

Spread

 

100-26

4.551

4.506

4.457

4.402

4.339

4.268

4.189

Yield

 

100-26

93

98

102

105

107

106

106

Spread

 

100-27

4.541

4.496

4.445

4.388

4.324

4.251

4.169

Yield

 

100-27

92

97

101

104

105

105

104

Spread

 

100-28

4.532

4.485

4.433

4.375

4.309

4.234

4.150

Yield

 

100-28

91

96

100

103

103

103

102

Spread

 

100-29

4.522

4.474

4.421

4.361

4.293

4.217

4.131

Yield

 

100-29

90

95

99

101

102

101

100

Spread

 

100-30

4.513

4.464

4.409

4.348

4.278

4.200

4.112

Yield

 

100-30

89

94

98

100

100

100

99

Spread

 

100-31

4.503

4.453

4.397

4.334

4.263

4.183

4.092

Yield

 

100-31

88

93

96

99

99

98

97

Spread

 

101-00

4.494

4.442

4.385

4.321

4.248

4.166

4.073

Yield

 

101-00

87

92

95

97

97

96

95

Spread

 

101-01

4.484

4.432

4.373

4.307

4.233

4.149

4.054

Yield

 

101-01

87

91

94

96

96

94

93

Spread

 

101-02

4.475

4.421

4.361

4.294

4.217

4.132

4.035

Yield

 

101-02

86

90

93

94

94

93

91

Spread

 

101-03

4.465

4.410

4.349

4.280

4.202

4.114

4.016

Yield

 

101-03

85

89

92

93

93

91

89

Spread

 

101-04

4.456

4.400

4.337

4.267

4.187

4.097

3.996

Yield

 

101-04

84

88

90

92

91

89

87

Spread

 

101-05

4.446

4.389

4.325

4.253

4.172

4.080

3.977

Yield

 

101-05

83

87

89

90

90

88

85

Spread

 

101-06

4.437

4.378

4.313

4.240

4.157

4.063

3.958

Yield

 

101-06

82

86

88

89

88

86

83

Spread

 

101-07

4.428

4.368

4.301

4.227

4.142

4.046

3.939

Yield

 

101-07

81

85

87

88

87

84

81

Spread

 

101-08

4.418

4.357

4.289

4.213

4.127

4.029

3.920

Yield

 

101-08

80

84

86

86

85

82

79

Spread

 
          

WAL

3.67

3.24

2.86

2.52

2.23

1.96

1.73

  

Principal Window

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

  

Optional Redemption

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

  
          

LIBOR_1MO

2.1300

        

LIBOR_6MO

2.5400

        

LIBOR_1YR

2.8800

        

CMT_1YR

2.5400

        
          
          

Swap

         

1YR

2YR

3YR

4YR

5YR

6YR

7YR

8YR

9YR

10YR

2.88

3.21626

3.46902

3.69292

3.88932

4.06147

4.21146

4.34225

4.457

4.55904

          

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 1B1

    
         

Balance

$9,890,000.00

Delay

0

     

Coupon

L+55

Dated

11/25/2004

     

Settle

11/26/2004

First Payment

12/25/2004

     
         
         

Prepay

10 CPR

15 CPR

20 CPR

25 CPR

30 CPR

35 CPR

40 CPR

 

99-22

58

59

60

61

62

63

65

 

99-23

58

59

60

61

62

63

64

 

99-24

57

58

59

60

61

62

63

 

99-25

57

58

59

59

60

61

62

 

99-26

57

57

58

59

59

60

61

 

99-27

56

57

58

58

59

59

60

 

99-28

56

57

57

58

58

58

59

 

99-29

56

56

57

57

57

58

58

 

99-30

56

56

56

56

56

57

57

 

99-31

55

55

56

56

56

56

56

 

100-00

55

55

55

55

55

55

55

 

100-01

55

55

54

54

54

54

54

 

100-02

54

54

54

54

54

53

53

 

100-03

54

54

53

53

53

52

52

 

100-04

54

53

53

52

52

52

51

 

100-05

54

53

52

52

51

51

50

 

100-06

53

53

52

51

51

50

49

 

100-07

53

52

51

51

50

49

48

 

100-08

53

52

51

50

49

48

47

 

100-09

52

51

50

49

48

47

46

 

100-10

52

51

50

49

48

47

45

 
         

WAL

12.68

8.93

6.69

5.40

4.59

3.96

3.45

 

Principal Window

Dec04 - Sep22

Dec04 - Nov17

Dec04 - Nov14

Dec04 - Sep12

Dec04 - Apr11

Dec04 - Mar10

Dec04 - May09

 

Optional Redemption

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

 
         

LIBOR_1MO

2.1300

       

LIBOR_6MO

2.5400

       

LIBOR_1YR

2.8800

       

CMT_1YR

2.5400

       
         

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 1B2

    
         

Balance

$4,120,000.00

Delay

0

     

Coupon

L+90

Dated

11/25/2004

     

Settle

11/26/2004

First Payment

12/25/2004

     
         
         

Prepay

10 CPR

15 CPR

20 CPR

25 CPR

30 CPR

35 CPR

40 CPR

 

99-22

93

94

95

96

97

98

100

 

99-23

93

94

95

96

97

98

99

 

99-24

92

93

94

95

96

97

98

 

99-25

92

93

94

94

95

96

97

 

99-26

92

92

93

94

94

95

96

 

99-27

92

92

93

93

94

94

95

 

99-28

91

92

92

93

93

93

94

 

99-29

91

91

92

92

92

93

93

 

99-30

91

91

91

91

91

92

92

 

99-31

90

90

91

91

91

91

91

 

100-00

90

90

90

90

90

90

90

 

100-01

90

90

89

89

89

89

89

 

100-02

89

89

89

89

89

88

88

 

100-03

89

89

88

88

88

87

87

 

100-04

89

88

88

87

87

87

86

 

100-05

88

88

87

87

86

86

85

 

100-06

88

88

87

86

86

85

84

 

100-07

88

87

86

86

85

84

83

 

100-08

88

87

86

85

84

83

82

 

100-09

87

86

85

84

83

82

81

 

100-10

87

86

85

84

83

82

80

 
         

WAL

12.68

8.93

6.69

5.40

4.59

3.96

3.45

 

Principal Window

Dec04 - Sep22

Dec04 - Nov17

Dec04 - Nov14

Dec04 - Sep12

Dec04 - Apr11

Dec04 - Mar10

Dec04 - May09

 

Optional Redemption

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

 
         

LIBOR_1MO

2.1300

       

LIBOR_6MO

2.5400

       

LIBOR_1YR

2.8800

       

CMT_1YR

2.5400

       
         

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 1B3

    
         

Balance

$2,472,000.00

Delay

0

     

Coupon

L+160

Dated

11/25/2004

     

Settle

11/26/2004

First Payment

12/25/2004

     
         
         

Prepay

10 CPR

15 CPR

20 CPR

25 CPR

30 CPR

35 CPR

40 CPR

 

99-20

163

164

166

167

168

169

170

 

99-21

163

164

165

166

167

168

169

 

99-22

163

163

164

165

166

167

168

 

99-23

162

163

164

165

165

166

167

 

99-24

162

163

163

164

165

165

166

 

99-25

162

162

163

163

164

164

165

 

99-26

161

162

162

163

163

164

164

 

99-27

161

161

162

162

162

163

163

 

99-28

161

161

161

161

162

162

162

 

99-29

160

161

161

161

161

161

161

 

99-30

160

160

160

160

160

160

160

 

99-31

160

160

160

160

159

159

159

 

100-00

159

159

159

159

159

159

158

 

100-01

159

159

159

158

158

158

157

 

100-02

159

158

158

158

157

157

156

 

100-03

159

158

157

157

156

156

155

 

100-04

158

158

157

156

156

155

154

 

100-05

158

157

156

156

155

154

153

 

100-06

158

157

156

155

154

153

152

 

100-07

157

156

155

154

153

153

152

 

100-08

157

156

155

154

153

152

151

 
         

WAL

12.68

8.93

6.69

5.40

4.59

3.96

3.45

 

Principal Window

Dec04 - Sep22

Dec04 - Nov17

Dec04 - Nov14

Dec04 - Sep12

Dec04 - Apr11

Dec04 - Mar10

Dec04 - May09

 

Optional Redemption

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

Call (Y)

 
         

LIBOR_1MO

2.1300

       

LIBOR_6MO

2.5400

       

LIBOR_1YR

2.8800

       

CMT_1YR

2.5400

       
         

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 2B1

     
          

Balance

$6,518,000.00

Delay

24

      

Coupon

4.835

Dated

11/1/2004

      

Settle

11/26/2004

First Payment

12/25/2004

      
          

Prepay

10 CPB

15 CPB

20 CPB

25 CPB

30 CPB

35 CPB

40 CPB

  

99-10+

4.986

4.986

4.989

4.993

4.997

5.002

5.009

Yield

 

99-10+

173

174

176

180

183

187

191

Spread

 

99-11+

4.977

4.977

4.980

4.983

4.987

4.992

4.998

Yield

 

99-11+

173

173

175

179

182

186

190

Spread

 

99-12+

4.968

4.968

4.970

4.973

4.977

4.981

4.987

Yield

 

99-12+

172

172

174

178

181

185

189

Spread

 

99-13+

4.959

4.959

4.961

4.964

4.967

4.971

4.975

Yield

 

99-13+

171

171

174

177

180

184

188

Spread

 

99-14+

4.950

4.950

4.952

4.954

4.957

4.960

4.964

Yield

 

99-14+

170

170

173

176

179

183

187

Spread

 

99-15+

4.940

4.941

4.942

4.944

4.947

4.950

4.953

Yield

 

99-15+

169

169

172

175

178

182

186

Spread

 

99-16+

4.931

4.931

4.933

4.935

4.937

4.939

4.942

Yield

 

99-16+

168

168

171

174

177

181

185

Spread

 

99-17+

4.922

4.922

4.923

4.925

4.926

4.928

4.931

Yield

 

99-17+

167

167

170

173

176

180

183

Spread

 

99-18+

4.913

4.913

4.914

4.915

4.916

4.918

4.920

Yield

 

99-18+

166

166

169

172

175

179

182

Spread

 

99-19+

4.904

4.904

4.905

4.905

4.906

4.907

4.909

Yield

 

99-19+

165

165

168

171

174

178

181

Spread

 

99-20+

4.895

4.895

4.895

4.896

4.896

4.897

4.897

Yield

 

99-20+

164

165

167

170

173

176

180

Spread

 

99-21+

4.886

4.886

4.886

4.886

4.886

4.886

4.886

Yield

 

99-21+

163

164

166

169

172

175

179

Spread

 

99-22+

4.877

4.877

4.877

4.876

4.876

4.876

4.875

Yield

 

99-22+

163

163

165

168

171

174

178

Spread

 

99-23+

4.868

4.868

4.867

4.867

4.866

4.865

4.864

Yield

 

99-23+

162

162

164

167

170

173

177

Spread

 

99-24+

4.859

4.859

4.858

4.857

4.856

4.855

4.853

Yield

 

99-24+

161

161

163

166

169

172

176

Spread

 

99-25+

4.850

4.850

4.849

4.847

4.846

4.844

4.842

Yield

 

99-25+

160

160

162

165

168

171

175

Spread

 

99-26+

4.841

4.841

4.839

4.838

4.836

4.834

4.831

Yield

 

99-26+

159

159

161

164

167

170

173

Spread

 

99-27+

4.832

4.832

4.830

4.828

4.826

4.823

4.820

Yield

 

99-27+

158

158

160

163

166

169

172

Spread

 

99-28+

4.823

4.822

4.821

4.818

4.816

4.813

4.809

Yield

 

99-28+

157

157

160

162

165

168

171

Spread

 

99-29+

4.814

4.813

4.811

4.809

4.806

4.802

4.798

Yield

 

99-29+

156

156

159

161

164

167

170

Spread

 

99-30+

4.805

4.804

4.802

4.799

4.796

4.792

4.787

Yield

 

99-30+

155

155

158

160

163

166

169

Spread

 
          

WAL

3.88

3.88

3.75

3.61

3.47

3.30

3.12

  

Principal Window

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

  

Optional Redemption

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

  
          

LIBOR_1MO

2.1300

        

LIBOR_6MO

2.5400

        

LIBOR_1YR

2.8800

        

CMT_1YR

2.5400

        
          
          

Swap

         

1YR

2YR

3YR

4YR

5YR

6YR

7YR

8YR

9YR

10YR

2.88

3.21626

3.46902

3.69292

3.88932

4.06147

4.21146

4.34225

4.457

4.55904

          

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 2B2

     
          

Balance

$4,494,000.00

Delay

24

      

Coupon

4.835

Dated

11/1/2004

      

Settle

11/26/2004

First Payment

12/25/2004

      
          

Prepay

10 CPB

15 CPB

20 CPB

25 CPB

30 CPB

35 CPB

40 CPB

  

98-22

5.173

5.174

5.182

5.193

5.205

5.220

5.238

Yield

 

98-22

192

192

196

200

204

209

214

Spread

 

98-23

5.164

5.165

5.173

5.183

5.195

5.210

5.227

Yield

 

98-23

191

191

195

199

203

208

213

Spread

 

98-24

5.155

5.156

5.163

5.173

5.185

5.199

5.216

Yield

 

98-24

190

191

194

198

202

207

212

Spread

 

98-25

5.146

5.146

5.154

5.164

5.174

5.188

5.205

Yield

 

98-25

189

190

193

197

201

206

211

Spread

 

98-26

5.137

5.137

5.144

5.154

5.164

5.178

5.193

Yield

 

98-26

189

189

192

196

200

205

210

Spread

 

98-27

5.128

5.128

5.135

5.144

5.154

5.167

5.182

Yield

 

98-27

188

188

191

195

199

203

209

Spread

 

98-28

5.118

5.119

5.126

5.134

5.144

5.156

5.171

Yield

 

98-28

187

187

190

194

198

202

208

Spread

 

98-29

5.109

5.110

5.116

5.124

5.134

5.146

5.160

Yield

 

98-29

186

186

189

193

197

201

206

Spread

 

98-30

5.100

5.100

5.107

5.115

5.124

5.135

5.149

Yield

 

98-30

185

185

188

192

196

200

205

Spread

 

98-31

5.091

5.091

5.097

5.105

5.113

5.124

5.137

Yield

 

98-31

184

184

187

191

195

199

204

Spread

 

99-00

5.082

5.082

5.088

5.095

5.103

5.114

5.126

Yield

 

99-00

183

183

186

190

194

198

203

Spread

 

99-01

5.073

5.073

5.078

5.085

5.093

5.103

5.115

Yield

 

99-01

182

182

185

189

193

197

202

Spread

 

99-02

5.063

5.064

5.069

5.076

5.083

5.093

5.104

Yield

 

99-02

181

181

184

188

192

196

201

Spread

 

99-03

5.054

5.055

5.060

5.066

5.073

5.082

5.093

Yield

 

99-03

180

180

183

187

191

195

200

Spread

 

99-04

5.045

5.045

5.050

5.056

5.063

5.071

5.081

Yield

 

99-04

179

180

182

186

190

194

199

Spread

 

99-05

5.036

5.036

5.041

5.046

5.053

5.061

5.070

Yield

 

99-05

178

179

182

185

189

193

197

Spread

 

99-06

5.027

5.027

5.031

5.037

5.043

5.050

5.059

Yield

 

99-06

178

178

181

184

188

192

196

Spread

 

99-07

5.018

5.018

5.022

5.027

5.032

5.040

5.048

Yield

 

99-07

177

177

180

183

187

191

195

Spread

 

99-08

5.009

5.009

5.013

5.017

5.022

5.029

5.037

Yield

 

99-08

176

176

179

182

186

190

194

Spread

 

99-09

5.000

5.000

5.003

5.007

5.012

5.018

5.026

Yield

 

99-09

175

175

178

181

185

189

193

Spread

 

99-10

4.990

4.991

4.994

4.998

5.002

5.008

5.014

Yield

 

99-10

174

174

177

180

184

188

192

Spread

 
          

WAL

3.88

3.88

3.75

3.61

3.47

3.30

3.12

  

Principal Window

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

  

Optional Redemption

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

  
          

LIBOR_1MO

2.1300

        

LIBOR_6MO

2.5400

        

LIBOR_1YR

2.8800

        

CMT_1YR

2.5400

        
          
          

Swap

         

1YR

2YR

3YR

4YR

5YR

6YR

7YR

8YR

9YR

10YR

2.88

3.21626

3.46902

3.69292

3.88932

4.06147

4.21146

4.34225

4.457

4.55904

          

No securities are being offered by these summary materials. If the securities described herein or other securities are ultimately offered, they will be offered only pursuant to a definitive offering circular, and prospective investors who consider purchasing any such securities should make their investment decision based only upon the information provided therein and consultation with their own advisers.  This material is for your private information and we are not soliciting any action based upon it.  This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal.  This material is based on information that we consider reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such.  By accepting this material the recipient agrees that it will not distribute or provide the material to any other person. The information contained in this material may not pertain to any securities that will actually be sold. The information contained in this material may be based on assumptions regarding market conditions and other matters as reflected therein.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied upon for such purposes.  We and our affiliates, officers, directors, partners and employees including persons involved in the preparation or issuance of this material may, from time to time, have long or short positions in, and buy or sell, the securities mentioned herein or derivatives thereof (including options). This material may be filed within the Securities and Exchange Commission (the "SEC") and incorporated by reference into an effective registration statement previously filed with the SEC under Rule 415 of the Securities Act of 1933, including in cases where the material does not pertain to securities that are ultimately offered for sale pursuant to such registration statement.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding the assets backing any securities discussed herein supersedes all prior information regarding such assets.  Any information in the material, whether regarding the assets backing any securities discussed herein or otherwise, will be superseded by the information included in the final prospectus for any securities actually sold to you.  Goldman Sachs does not provide accounting, tax or legal advice. Subject to applicable law, you may disclose any and all aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, without Goldman Sachs imposing any limitation of any kind.









GSR 2004-14     <TERMSHEET> - Price/Yield - 2B3

     
          

Balance

$3,595,000.00

Delay

24

      

Coupon

4.835

Dated

11/1/2004

      

Settle

11/26/2004

First Payment

12/25/2004

      
          

Prepay

10 CPB

15 CPB

20 CPB

25 CPB

30 CPB

35 CPB

40 CPB

  

97-13

5.553

5.554

5.573

5.598

5.626

5.662

5.704

Yield

 

97-13

230

230

235

240

246

253

261

Spread

 

97-14

5.544

5.545

5.564

5.588

5.615

5.651

5.692

Yield

 

97-14

229

229

234

239

245

252

260

Spread

 

97-15

5.534

5.535

5.554

5.578

5.605

5.640

5.681

Yield

 

97-15

228

229

233

238

244

251

258

Spread

 

97-16

5.525

5.526

5.545

5.568

5.595

5.629

5.669

Yield

 

97-16

227

228

232

237

243

250

257

Spread

 

97-17

5.516

5.517

5.535

5.558

5.584

5.618

5.658

Yield

 

97-17

226

227

231

236

242

249

256

Spread

 

97-18

5.506

5.507

5.525

5.548

5.574

5.608

5.646

Yield

 

97-18

225

226

230

235

241

248

255

Spread

 

97-19

5.497

5.498

5.516

5.538

5.564

5.597

5.635

Yield

 

97-19

225

225

229

234

240

246

254

Spread

 

97-20

5.488

5.489

5.506

5.528

5.553

5.586

5.624

Yield

 

97-20

224

224

228

233

239

245

253

Spread

 

97-21

5.478

5.479

5.497

5.519

5.543

5.575

5.612

Yield

 

97-21

223

223

227

232

238

244

252

Spread

 

97-22

5.469

5.470

5.487

5.509

5.533

5.564

5.601

Yield

 

97-22

222

222

226

231

237

243

250

Spread

 

97-23

5.460

5.461

5.477

5.499

5.523

5.553

5.589

Yield

 

97-23

221

221

225

230

236

242

249

Spread

 

97-24

5.450

5.451

5.468

5.489

5.512

5.543

5.578

Yield

 

97-24

220

220

224

229

235

241

248

Spread

 

97-25

5.441

5.442

5.458

5.479

5.502

5.532

5.567

Yield

 

97-25

219

219

223

228

233

240

247

Spread

 

97-26

5.432

5.433

5.449

5.469

5.492

5.521

5.555

Yield

 

97-26

218

218

222

227

232

239

246

Spread

 

97-27

5.423

5.424

5.439

5.459

5.481

5.510

5.544

Yield

 

97-27

217

217

221

226

231

238

245

Spread

 

97-28

5.413

5.414

5.430

5.449

5.471

5.499

5.532

Yield

 

97-28

216

216

220

225

230

237

244

Spread

 

97-29

5.404

5.405

5.420

5.439

5.461

5.489

5.521

Yield

 

97-29

215

216

219

224

229

236

243

Spread

 

97-30

5.395

5.396

5.410

5.429

5.450

5.478

5.510

Yield

 

97-30

214

215

218

223

228

235

241

Spread

 

97-31

5.386

5.386

5.401

5.419

5.440

5.467

5.498

Yield

 

97-31

213

214

218

222

227

233

240

Spread

 

98-00

5.376

5.377

5.391

5.409

5.430

5.456

5.487

Yield

 

98-00

212

213

217

221

226

232

239

Spread

 

98-01

5.367

5.368

5.382

5.400

5.420

5.446

5.476

Yield

 

98-01

212

212

216

220

225

231

238

Spread

 
          

WAL

3.88

3.88

3.75

3.61

3.47

3.30

3.12

  

Principal Window

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

Dec04 - Aug09

  

Optional Redemption

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

Call (N)

  
          

LIBOR_1MO

2.1300

        

LIBOR_6MO

2.5400

        

LIBOR_1YR

2.8800

        

CMT_1YR

2.5400

        
          
          

Swap

         

1YR

2YR

3YR

4YR

5YR

6YR

7YR

8YR

9YR

10YR

2.88

3.21626

3.46902

3.69292

3.88932

4.06147

4.21146

4.34225

4.457

4.55904

          

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