The information in this preliminary disclosure statement supplement is not complete and may be changed. This preliminary disclosure statement supplement is not an offer to sell nor does it seek an offer to buy these CDs in any jurisdiction where the offer or sale is not permitted. Subject to Completion. Dated June 3, 2014. Goldman Sachs Bank USA $ GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificates of Deposit due 2021 The CDs will pay interest at a fixed rate of 1.00% per annum (equivalent to an annual percentage yield (APY) of 1.00%) payable annually on each interest payment date (expected to be June 28th of each year, commencing on June 28, 2015 and ending on the stated maturity date). The stated maturity date is expected to be June 28, 2021. At maturity, in addition to any accrued and unpaid interest, you will be paid an amount in cash equal to the face amount of your CD plus a supplemental amount, if any, which will be based on the performance of the GS Momentum Builder Multi-Asset 5 ER Index as measured from the trade date (expected to be June 25, 2014) to and including the determination date (expected to be June 23, 2021). If the final index level is equal to or less than 107.00% of the initial index level, you will receive the face amount of your CDs and the final interest payment. You will not receive a supplemental amount unless the index return is greater than 7.00%, and, even if the index return is greater than 7.00%, the return on your notes will be less than the positive index return unless the index return exceeds 21.00%. The index measures the extent to which the performance of the selected underlying assets (up to 14 exchange traded funds and a money market position, which provide exposure to equities, fixed income, emerging markets, alternatives, commodities, inflation, and cash equivalent asset classes) outperform the sum of 3-month USD LIBOR plus a daily index fee of 0.50% per annum. The money market position reflects the returns accruing at a rate equal to the federal funds effective rate on a hypothetical investment in a notional overnight money account denominated in U.S. dollars. The index rebalances monthly (and sometimes daily) from among the 15 underlying assets. Each month the index is rebalanced by calculating the combination of underlying assets with the highest return during the prior six months, subject to a (a) limit of 5% on portfolio realized volatility over look-back periods of six months, three months and one month, and (b) maximum weight for each underlying asset and each asset class. Realized volatility is the degree of variation in the daily closing prices or levels of the aggregate of the underlying assets over the applicable look-back period. This results in a portfolio for each of the three look-back periods. The weight of each underlying asset for each monthly rebalancing will equal the average of the weight, if any, of such underlying asset in the three portfolios. During the term of your CDs, as a result of monthly rebalancing, the index may include as few as four underlying assets (as few as three ETFs) and may never include some of the underlying assets or asset classes. Because the index measures the performance of the selected underlying assets less the sum of 3-mo-LIBOR plus the fee of 0.50% per annum, the selected underlying assets must outperform 3-mo-LIBOR plus the fee of 0.50% per annum for the index level to increase. On each index business day the realized volatility of the index for the prior month is calculated and, if it exceeds 6%, the index will be rebalanced for that day (but not for any subsequent index business day) by ratably reallocating a portion of the exposure to the ETFs in the index to the money market position sufficient to reduce the prior month realized volatility to 6%. As a result of a daily rebalancing, the index may not include any ETFs and may allocate its entire exposure to the money market position, the return on which might not exceed 3-mo-LIBOR. Historically, a significant portion of the index exposure has been to the money market position, the return on which has been below 3-mo-LIBOR. To determine your payment of the supplemental amount 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. For each $1,000 face amount of your CDs you will receive an amount in cash equal to $1,000 plus the supplemental amount, if any, plus any accrued and unpaid interest. The supplemental amount will equal: if the index return is greater than 7.00% (the final index level is greater than 107.00% of the initial index level), the product of (a) $1,000 times (b) 1.50 times (c) the index return minus 7.00%; or if the index return is equal to or less than 7.00% (the final index level is equal to or less than 107.00% of the initial index level), $0. Your investment in the CDs involves certain risks, including, among other things, our credit risk. See page S-21. You should read the additional disclosure herein so that you may better understand the terms and risks of your investment. The estimated value of your CDs at the time the terms of your CDs 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 expected to be between $910 and $960 per $1,000 face amount, which will be less than the original issue price. The value of your CDs at any time will reflect many factors and cannot be predicted; however, the price (not including GS&Co. s customary bid and ask spreads) at which GS&Co. would initially buy or sell CDs (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 will equal approximately $ per $1,000 face amount, which will exceed the estimated value of your CDs 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. You must hold the CDs to maturity to receive the stated payout from Goldman Sachs Bank USA. Original issue date: expected to be June 30, 2014 Original issue price: 100.00% of the face amount* Placement fee: % of the face amount Net proceeds to the issuer: % of the face amount *The original issue price will vary between % and 100% for certain investors; see Supplemental Plan of Distribution on page S-160. As more fully described on the next page, the CDs are covered, with respect to the face amount and any accrued and unpaid interest, by federal deposit insurance, up to a maximum limit of $250,000 per depositor or $250,000 per participant in the case of certain retirement accounts. The CDs are issued by Goldman Sachs Bank USA, Member of the Federal Deposit Insurance Corporation. Disclosure Statement Supplement No. dated, 2014.
FDIC Insurance The CDs evidence deposit liabilities of Goldman Sachs Bank USA and are not obligations of or guaranteed by The Goldman Sachs Group, Inc. or any other entity. As more fully described below, the CDs are covered, with respect to the face amount and any accrued and unpaid interest, by federal deposit insurance, up to a maximum limit of $250,000 per depositor or $250,000 per participant in the case of certain retirement accounts. These maximum limits are the total federal deposit insurance protection available for your CDs, together with any other deposit accounts you may hold at Goldman Sachs Bank USA in the same right and capacity. In addition, the FDIC has taken the position that any unaccrued interest is not insured until it has been finally determined and accrued on the interest payment date and the supplemental amount is not insured by the FDIC until it has been finally determined and accrued on the determination date. FDIC insurance is subject to further important limitations set forth below. By your purchase of a CD, you are deemed to represent to us and any dealer through which you purchase the CD that your deposits with Goldman Sachs Bank USA, including the CDs, when aggregated in accordance with Federal Deposit Insurance Corporation regulations, are within the $250,000 FDIC insurance limit for each insurable capacity. For purposes of early withdrawal upon your death or adjudication of incompetence, we will limit the combined aggregate principal amount of (i) these CDs and (ii) any other CDs of Goldman Sachs Bank USA subject to this withdrawal limit to the FDIC insurance coverage amount applicable to each insurable capacity in which such CDs are held. Please contact us or the applicable dealer if you have any questions concerning the application of the limit on early withdrawal to your CDs. FDIC insurance may not cover the CDs if a regulatory or statutory change renders the CDs ineligible for FDIC insurance coverage. Further, if Goldman Sachs Bank USA s status as an insured depository institution is terminated or suspended by the FDIC (including as a result of our actions) or is terminated by us, during the period of temporary insurance following the termination or suspension the FDIC insurance may not cover any amounts in excess of the face amount of the CDs and any interest payment accrued prior to the date of such termination or suspension. Also, FDIC insurance does not cover any losses attributable to the sale of your CDs prior to maturity and any secondary market premium paid by you above the face amount of the CDs is not insured by the FDIC. Thus, the amount of any CD that will be insured by the FDIC may be less than the full amount that would otherwise be payable on the CD at maturity. For more information about some of the limits of FDIC insurance that apply to the CDs and the ranking of the CDs relative to other obligations of Goldman Sachs Bank USA, see Status of Certificates of Deposit on page 5 of the accompanying disclosure statement and Additional Risk Factors Specific to Your Certificates of Deposit on page S-21 of this disclosure statement supplement. Any amount owed on the CDs in excess of, or not otherwise eligible for, FDIC insurance will be subject to the creditworthiness of Goldman Sachs Bank USA. The CDs have not been nor will they be registered under the Securities Act of 1933. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of the CDs or passed upon the accuracy or adequacy of this disclosure statement supplement or the accompanying disclosure statement, which have not been filed with the SEC. Any representation to the contrary is a criminal offense. About Your CDs This disclosure statement supplement constitutes a supplement to the document listed below and should be read in conjunction with such document: Disclosure statement dated December 19, 2011(available at http://www2.goldmansachs.com/disclaimer/gsbankusa/gsbank-usa-disclosure-statement-december-19-2011.pdf). The information in this disclosure statement supplement supersedes any conflicting information in the document listed above. In addition, some of the terms or features described in the listed document may not apply to your CDs. *** Goldman Sachs Bank USA may use this disclosure statement supplement in the initial sale of the CDs. In addition, Goldman, Sachs & Co. or any other affiliate of Goldman Sachs Bank USA may use this disclosure statement supplement in a market-making transaction in a CD after its initial sale. If the CDs are purchased from Goldman, Sachs & Co. or any other affiliate of Goldman Sachs Bank USA, this disclosure statement supplement is being used in a marketmaking transaction, unless the purchaser is informed otherwise in the confirmation of sale. We may decide to sell additional CDs after the date of this disclosure statement supplement, at issue prices and with placement fees and net proceeds that differ from the amounts set forth above.
The following is a list of the eligible underlying assets for the index, including the related asset classes, asset class maximum weights and underlying asset maximum weights. The index is more fully described beginning on page S-53 herein. ASSET CLASS ASSET CLASS MINIMUM WEIGHT ASSET CLASS MAXIMUM WEIGHT Equities 0% 50% Fixed Income 0% 50% Emerging Markets 0% 25% Alternatives 0% 25% ELIGIBLE UNDERLYING ASSET TICKER UNDERLYING ASSET MINIMUM WEIGHT UNDERLYING ASSET MAXIMUM WEIGHT SPDR S&P 500 ETF Trust SPY 0% 20% ishares MSCI EAFE ETF EFA 0% 20% ishares MSCI Japan ETF EWJ 0% 10% ishares 20+ Year Treasury Bond ETF TLT 0% 20% ishares iboxx $ Investment Grade Corporate Bond ETF LQD 0% 20% ishares iboxx $ High Yield Corporate Bond ETF HYG 0% 20% ishares MSCI Emerging Markets ETF EEM 0% 20% ishares J.P. Morgan USD Emerging Markets Bond ETF EMB 0% 20% ishares U.S. Real Estate ETF IYR 0% 20% Alerian MLP ETF AMLP 0% 10% PowerShares Senior Loan Portfolio BKLN 0% 10% PowerShares DB Commodity Index DBC 0% 20% Commodities 0% 25% Tracking Fund SPDR Gold Trust GLD 0% 20% Inflation 0% 25% ishares TIPS Bond ETF TIP 0% 25% Cash 0% 50%* Money Market Position N/A 0% 50%* Equivalent * With respect to the money market position, the related asset class maximum weight and underlying asset maximum weight limitations do not apply to daily rebalancing and, therefore, as a result of daily rebalancing, the index may allocate its entire exposure to the money market position. About Your CDs This disclosure statement supplement constitutes a supplement to the document listed below and should be read in conjunction with such document: Disclosure statement dated December 19, 2011(available at http://www2.goldmansachs.com/disclaimer/gsbankusa/gsbank-usa-disclosure-statement-december-19-2011.pdf) The information in this disclosure statement supplement supersedes any conflicting information in the document listed above. In addition, some of the terms or features described in the listed document may not apply to your CDs.
SUMMARY INFORMATION We refer to the certificates of deposit we are offering by this disclosure statement supplement as the offered CDs or the CDs. Each of the offered CDs, including your CDs, has the terms described below. Please note that in this disclosure statement supplement, references to Goldman Sachs Bank USA, we, our and us refer only to Goldman Sachs Bank USA. You should read this disclosure statement supplement together with the disclosure statement dated December 19, 2011, of Goldman Sachs Bank USA, which we refer to herein as the accompanying disclosure statement. The accompanying disclosure statement is available at http://www2.goldmansachs.com/disclaimer/gsbankusa/gs-bank-usa-disclosure-statement-december-19-2011.pdf or may be obtained from us or your broker. Issuer: Goldman Sachs Bank USA Key Terms Index: GS Momentum Builder Multi-Asset 5 ER Index (Bloomberg symbol, GSMBMA5 Index ), as published by the index sponsor (including any index calculation agent acting on the index sponsor s behalf); see The Index on page S-53. Additional information about the index is available at the following website: http://www.solactive.com/indexing-en/indices/complex/. We are not incorporating by reference the website or any material it includes in this disclosure statement supplement Index calculation agent: Solactive AG Index sponsor: Goldman, Sachs & Co. Face amount: $ in the aggregate for all the offered CDs, issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof Payment amount: on the stated maturity date, in addition to any accrued and unpaid interest, we will pay you for each $1,000 face amount of your CDs, an amount in cash equal to the sum of $1,000 plus the supplemental amount Supplemental amount: for each $1,000 face amount of the CDs: if the index return is greater than 7.00% (the final index level is greater than 107.00% of the initial index level), the product of (i) $1,000 times (ii) the upside participation rate times (iii) the index return minus 7.00%; or if the index return is equal to or less than 7.00% (if the final index level is equal to or less than 107.00% of the initial index level), $0. Due to the formula used to determine the supplemental amount, you will not receive a supplemental amount unless the index return is greater than 7.00%, and, even if the index return is greater than 7.00%, your percentage return based on index performance will be less than the positive index return unless the index return exceeds 21.00%. Further, even if the index return equals or exceeds 21.00%, your percentage return based on index performance will be less than the product of the upside participation rate times the index return. Initial index level (to be set on the trade date): Closing level of the index: as described under Specific Terms of Your Certificates of Deposit Special Calculation Provisions Closing Level of the Index on page S-47 Level of the index: as described under Specific Terms of Your Certificates of Deposit Special Calculation Provisions Level of the Index on page S-47 Final index level: the closing level of the index on the determination date, except in the limited circumstances described under Specific Terms of Your Certificates of Deposit Consequences of a Non-Trading Day on page S-44 and subject to adjustment as provided under Specific Terms of Your Certificates of Deposit Discontinuance or Modification of the Index on page S-45 Interest rate (coupon): 1.00% per annum (equivalent to an APY of 1.00%) Business day convention: following unadjusted; as described under Description of Certificates of Deposit We May Offer Business Day Conventions on page 30 of the accompanying disclosure statement Interest payment dates: annually; expected to be June 28th of each year, commencing on June 28, 2015 and ending on the stated maturity date; subject to adjustment as described under Specific Terms of Your Certificates of Deposit Interest Payments on page S-43 of this disclosure statement supplement. S-4
Regular record dates: for interest due on an interest payment date, the business day immediately preceding such interest payment date (as such interest payment date may be adjusted) Index return: the quotient of (i) the final index level minus the initial index level divided by (ii) the initial index level, expressed as a positive or negative percentage Upside participation rate: 150.00% Supplemental discussion of U.S. federal income tax consequences: The CDs 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 the CDs over their term based on the comparable yield for the CDs. In addition, any gain you may recognize on the sale, exchange or maturity of the CDs will be taxed as ordinary interest income. Trade date: expected to be June 25, 2014 Original issue date (settlement date) (to be set on the trade date): expected to be June 30, 2014 Stated maturity date (to be set on the trade date): expected to be June 28, 2021, subject to adjustment as described under Specific Terms of Your Certificates of Deposit Payment on Stated Maturity Date Stated Maturity Date on page S-44 Determination date (to be set on the trade date): expected to be June 23, 2021, subject to adjustment as described under Specific Terms of Your Certificates of Deposit Payment on Stated Maturity Date Determination Date on page S-44 Mandatory redemption: if our status as an insured depository institution is terminated by the FDIC or us or as a result of our actions, or if a regulatory or statutory change renders the CDs ineligible for FDIC insurance coverage, to the extent permitted by law and regulation, we will redeem your CDs then outstanding on the applicable mandatory redemption date, unless they mature prior to such date, as described under Specific Terms of Your Certificates of Deposit Mandatory Redemption on page S-45; your CDs are not otherwise subject to redemption at our option Mandatory redemption date: as described under Specific Terms of Your Certificates of Deposit Mandatory Redemption on page S-45 Mandatory redemption amount: as described under Specific Terms of Your Certificates of Deposit Special Calculation Provisions Mandatory Redemption Amount on page S-47 Optional redemption in the event of death or adjudication of incompetence: as described under Specific Terms of Your Certificates of Deposit Optional Redemption in the Event of Death or Adjudication of Incompetence on page S-46 (such description includes important limitations, described on pages S-16 and S-46 hereof, that are not described in the accompanying disclosure statement). Your CDs are not otherwise subject to repayment at your option. If you sell your CDs in a secondary market transaction prior to maturity, you may receive significantly less than the face amount, as described under Q&A What Will I Receive If I Sell the CDs Prior to the Stated Maturity Date? below Redemption date: means the date on which CDs are redeemed following a mandatory redemption or an optional redemption in the event of death or adjudication of incompetence, as applicable No listing: the CDs will not be listed on any securities exchange or interdealer market quotation system CD calculation agent: Goldman, Sachs & Co. Business day: as described under Specific Terms of Your Certificates of Deposit Special Calculation Provisions Business Day on page S-46 Trading day: as described under Specific Terms of Your Certificates of Deposit S pe cia l C a lcula tion Provisions Trading Day on page S-46 CUSIP no.: 38147JF64 ISIN no.: US38147JF641 Legal ownership and payment: the CDs will be issued in master certificate form and payment will be made in accordance with the applicable procedures of the depositary, as discussed under Legal Ownership and Payment on page 38 of the accompanying disclosure statement ERISA: as described under Employee Retirement Income Security Act on page 55 of the accompanying disclosure statement S-5
Annual percentage yield (APY): a percentage rate reflecting the applicable annualized coupon rate, calculated in accordance with Regulation DD of the Consumer Financial Protection Bureau, 12 C.F.R. Part 1030 Original issue price: 100% of the face amount or between % and 100% of the face amount for CDs purchased by certain advisory accounts where investors are charged investment advisory or other fees in connection with such accounts. An investor who purchases CDs at an original issue price below 100% of the face amount will still be credited with the full face amount of the CD but will purchase at a more favorable price to the extent of the difference between the price such investor pays for the CD and 100% of the face amount of the CD. Purchase Limitation By your purchase of a CD, you are deemed to represent to us and any dealer through which you purchase the CD that your deposits with Goldman Sachs Bank USA, including the CDs, when aggregated in accordance with Federal Deposit Insurance Corporation regulations, are within the $250,000 FDIC insurance limit for each insurable capacity. S-6
Transaction Summary GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificates of Deposit due 2021 The below is only a brief summary of the terms of your CDs. You should read the detailed description thereof in Summary Information on page S- 4 and in Specific Terms of Your Certificates of Deposit on page S-43 as well as the accompanying disclosure statement. INVESTMENT THESIS For investors who: are willing to accept a potentially lower rate of interest in exchange for an opportunity to achieve a return at maturity based on the performance of an index that attempts to track the positive price momentum in certain eligible underlying assets by varying exposure to those eligible underlying assets, subject to limitations on volatility and a maximum weight for each underlying asset and each asset class. Amounts payable on the CDs are FDIC insured in the amounts described on page S-13, up to the applicable FDIC insurance limits, and thereafter exposed to the credit risk of the issuer. understand that the eligible underlying assets provide exposure to equities, fixed income, emerging markets, alternatives, commodities, inflation, and cash equivalent asset classes. seek to have their principal returned after a period of seven years. believe the index will increase by more than 7.00% during the period from the trade date to the determination date. are willing to receive, in addition to accrued and unpaid interest, only their principal back at maturity if the index return is less than or equal to 7.00%. The index may include as few as four underlying assets (as few as three ETFs) and may not include some of the underlying assets or assets classes during the entire term of your CDs. Historically, a significant portion of the index exposure has been to the money market position, the return of which has been below 3-month USD LIBOR. PAYOUT DESCRIPTION You will receive an annual fixed interest payment of 1.00% per annum on each interest payment date. On the stated maturity date, in addition to any accrued and unpaid interest, we will pay you, for each $1,000 face amount of your CDs, an amount in cash equal to the sum of $1,000 plus: if the index return is greater than 7.00% (the final index level is greater than 107.00% of the initial index level), the product of (i) $1,000 times (ii) 1.50 times (iii) the index return minus 7.00%; or if the index return is equal to or less than 7.00% (the final index level is equal to or less than 107.00% of the initial index level), $0. Due to the formula used to determine the payout on the stated maturity date, you will not receive a supplemental amount unless the index return is greater than 7.00%, and, even if the index return is greater than 7.00%, your percentage return based on index performance will be less than the positive index return unless the index return exceeds 21.00%. Further, even if the index return equals or exceeds 21.00%, your percentage return based on index performance will be less than 1.50 times the index return. S-7
Transaction Summary GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificates of Deposit due 2021 THE INDEX The GS Momentum Builder Multi-Asset 5 ER Index (the index) measures the extent to which the performance of the exchange traded funds and money market position included in the index outperform the notional interest rate, which is a rate equal to 3-month USD LIBOR, plus a daily index maintenance fee of 0.50% per annum. The money market position reflects the returns accruing to a hypothetical investor from an investment in a notional overnight money account denominated in U.S. dollars that accrues interest at a rate equal to the federal funds effective rate. The index rebalances monthly (and sometimes daily) from among 15 underlying assets that provide exposure to assets that have been categorized in the following asset classes: equities; fixed income; emerging markets; alternatives; commodities; inflation; and cash equivalent. The index attempts to track the positive price momentum in the underlying assets, subject to limitations on volatility and a maximum weight for each underlying asset and each asset class, each as described below. Features of the index include: monthly rebalancing based on the combination of underlying assets that would have provided the highest historical return during a return look-back period comprised of the prior six months, subject to: o a limit of 5% on the degree of variation in the daily closing prices or closing level, as applicable, of the aggregate of such underlying assets over three different realized volatility look-back periods (the prior six months, three months and one month); and o a maximum weight for each underlying asset and each asset class; and the potential for daily rebalancing into the money market position, based on whether the realized volatility of the underlying assets comprising the index exceeds the volatility cap of 6% for the applicable volatility cap period (the prior one month). Analyzing realized volatility over three look-back periods results in a portfolio for each look-back period and the weight of each underlying asset for each monthly rebalancing will equal the average of the weights of such underlying asset in the three portfolios. Monthly rebalancing will be implemented over a base index rebalancing period comprised of five base index rebalancing days, which are the first five index business days of each calendar month beginning on, and including, the base index observation day (the first calendar day of each month), subject to adjustment. The value of the index is calculated on each index business day by reference to the performance of the total return index value net of the sum of the return on the notional interest rate in effect at that time plus the daily index maintenance fee of 0.50% per annum. Any cash dividend paid on an index ETF is deemed to be reinvested in such index ETF and subject to subsequent changes in the value of the index ETF. In addition, any interest accrued on the money market position is similarly deemed to be reinvested on a daily basis in such money market position and subject to subsequent changes in the federal funds effective rate. The total return index value on each index business day is calculated by reference to the weighted performance of: the base index, which is the weighted combination of underlying assets that comprise the index at the applicable time as a result of the most recent monthly base index rebalancing (whether partially or fully implemented); and any additional exposure to the money market position resulting from any daily total return index rebalancing that day. The underlying assets that comprise the base index as the result of the most recent monthly base index rebalancing may include a combination of ETFs and the money market position, or solely ETFs. A daily total return index rebalancing will occur on a daily total return index rebalancing day, which is any index business day, if the realized volatility of the base index exceeds the volatility cap of 6% for the volatility cap period applicable to such daily total return index rebalancing day. As a result of a daily total return index rebalancing, the index will have exposure to the money market position even if the base index has no such exposure resulting from its most recent monthly base index rebalancing. For the purpose of this disclosure statement supplement: an eligible underlying asset is one of the ETFs or the money market position that is eligible for inclusion in the index on a monthly base index observation day; an eligible ETF is one of the ETFs that is eligible for inclusion in the index on a monthly base index observation day (when we refer to an ETF we mean an exchange traded fund, which for purposes of this disclosure statement supplement includes the following exchange traded products: SPDR S&P 500 ETF Trust, PowerShares DB Commodity Index Tracking Fund and SPDR Gold Trust); an index underlying asset is an eligible underlying asset with a non-zero weighting on any index business day; an index ETF is an ETF that is an eligible ETF with a non-zero weighting on any index business day; and an index business day is a day on which both (i) commercial banks and currency exchange markets settle payments and are open for general business in New York and (ii) the New York Stock Exchange is open for its regular trading session on such day. TERMS Issuer Goldman Sachs Bank USA Index GS Momentum Builder Multi-Asset 5 ER Index Trade Date Expected to be June 25, 2014 Settlement Date (to be set on the trade date) Expected to be June 30, 2014 Determination Date (to be set on the trade date) Expected to be June 23, 2021 Stated Maturity Date (to be set on the trade date) Expected to be June 28, 2021 Initial Index Level To be determined on the trade date Final Index Level The closing level of the index on the determination date Upside Participation Rate 150.00% Index Return The quotient of (i) the final index level minus the initial index level divided by (ii) the initial index level, expressed as a percentage Payment Amount On the stated maturity date, in addition to any accrued and unpaid interest, we will pay you, for each $1,000 face amount of your CDs, an amount in cash equal to the sum of $1,000 plus the supplemental amount Supplemental Amount For each $1,000 face amount of the CDs: if the index return is greater than 7.00% (the final index level is greater than 107.00% of the initial index level), the product of (i) $1,000 times (ii) the upside participation rate times (iii) the index return minus 7.00%; or if the index return is equal to or less than 7.00% (the final index level is equal to or less than S-8
107.00% of the initial index level), $0 Interest Rate (Coupon) 1.00% per annum (equivalent to an APY of 1.00%) Interest Payment Dates Annually; expected to be June 28th of each year, commencing on June 28, 2015 and ending on the stated maturity date CUSIP 38147JF64 S-9
Transaction Summary GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificates of Deposit due 2021 HYPOTHETICAL EXAMPLES The following table is provided for purposes of illustration only. It should not be taken as an indication or prediction of future investment results and is intended merely to illustrate the impact that various hypothetical closing levels of the index on the determination date could have on the payment at maturity assuming all other variables remain constant. The actual performance of the index over the life of your CDs, particularly on the determination date, as well as the amount payable on the stated maturity date, may bear little relation to the hypothetical examples shown below or on page S-49 or to the historical levels of the index shown elsewhere in this disclosure statement supplement. You should also refer to the historical index performance information and hypothetical performance data beginning on page S-63 of this disclosure statement supplement. Hypothetical Final Index Level (as a Percentage of the Initial Index Level) Hypothetical Payment Amount* (as a Percentage of Face Amount) 175.00% 202.00% 150.00% 164.50% 125.00% 127.00% 121.00% 121.00% 110.00% 104.50% 107.00% 100.00% 105.00% 100.00% 100.00% 100.00% 90.00% 100.00% 75.00% 100.00% 50.00% 100.00% 25.00% 100.00% 0.00% 100.00% *Does not include interest S-10
Transaction Summary GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificates of Deposit due 2021 REBALANCING Monthly Base Index Rebalancing Daily Total Return Index Rebalancing Calculate the 6-month historical returns for each underlying asset combination Calculate the 6-month, 3-month and 1-month realized volatility for each underlying asset combination (each a potential portfolio) Calculate the realized volatility of the index underlying assets for the applicable 1-month volatility cap period Determine three potential portfolios (one for each realized volatility look-back period) by selecting underlying asset weights that both (i) would have provided the highest 6-month historical return and (ii) are within the underlying asset maximum weight, the asset class maximum weight and the applicable realized volatility constraint Determine the weighting of each index underlying asset by averaging the weights of each underlying asset in the three potential portfolios identified above Run the daily rebalancing test to determine if any further changes from this position are required Has the realized volatility for the applicable 1-month volatility cap period exceeded the volatility cap? Yes The weightings of the index underlying assets will be rebalanced in order to reduce the realized volatility for the applicable 1-month volatility cap period by ratably reallocating a portion of the exposure to the ETFs comprising the index to the money market position. The money market position reflects the notional returns accruing to a hypothetical investor from an investment in a notional overnight money account denominated in U.S. dollars that accrues interest at the overnight interest rate, which is a rate equal to the federal funds effective rate No The index will not be rebalanced on such index business day S-11
Transaction Summary GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificates of Deposit due 2021 Historical Information and Hypothetical Data The following chart and table provide a comparison between the index (using historical information and hypothetical data, as explained below) and certain asset classes (in each case, represented by a benchmark ETF or a benchmark index) from December 3, 2007 to May 27, 2014. Benchmark ETF data and benchmark index data is based on the historical levels of the benchmark ETFs and benchmark indices, respectively. The historical index information from December 17, 2013 (the index launch date) to May 27, 2014 reflects the actual performance of the index. (In the chart, this historical index information can be found to the right of the vertical solid line marker.) The hypothetical index data from March 3, 2011 to December 16, 2013 is based on the historical levels of the eligible underlying assets using the same methodology that is used to calculate the index. Hypothetical index data for the period from December 3, 2007 through March 2, 2011 was calculated using the same methodology that is used to calculate the index, provided that a proxy was used for the following eligible ETFs, in each case for the period of time that such eligible ETF was not in existence: ishares J.P. Morgan USD Emerging Markets Bond ETF (not in existence prior to December 19, 2007), Alerian MLP ETF (not in existence prior to August 25, 2010) and PowerShares Senior Loan Portfolio (not in existence prior to March 3, 2011). As a result, due to the varying weights of the eligible ETFs and proxies, at any time during this period as much as 100% of the hypothetical index performance data was derived from proxy data. Please note that the benchmark ETFs and benchmark indices that are used to represent asset classes for purposes of the following table and chart may not be eligible underlying assets for purposes of the index and in some cases differ from the eligible underlying assets that are used to represent asset classes with the same or similar titles for purposes of the index. You should not take the historical index information, hypothetical index data or historical benchmark ETF and benchmark index data as an indication of the future performance of the index. Performance Since December 2007 160 140 GS Momentum Builder Multi Asset 5 ER Index (GSMBMA5) Global Equities (MSCI ACWI Excess Return Index) US Real Estate (IYR) US Bonds (AGG) Commodities (S&P GSCI Excess Return Index) 120 100 80 60 40 20 0 As of 5/27/2014 GS Momentum Builder Multi Asset 5 ER Index (GSMBMA5) US Bonds (AGG) Global Equities (MSCI ACWI Excess Return Index) Commodities (S&P GSCI Excess Return Index) US Real Estate (IYR) Effective Performance (1 Month) 1.93% 1.06% 2.02% -0.26% 3.03% Effective Performance (6 Month) 4.97% 2.88% 5.59% 6.42% 15.68% Annualized* Performance (since December 2007) 6.32% 4.04% 2.29% -5.52% 4.53% Annualized* Realized Volatility (since December 2007)** 5.14% 5.97% 19.92% 25.16% 39.70% Return over Risk (since December 2007)*** 1.23 0.68 0.12-0.22 0.11 Maximum Peak-to-Trough Drawdown**** -11.04% -13.19% -58.27% -71.59% -68.32% * Calculated on a per annum percentage basis. ** Calculated on the same basis as realized volatility used in calculating the index. *** Calculated by dividing the annualized performance by the annualized realized volatility since December 3, 2007. **** The largest percentage decline experienced in the relevant measure from a previously occurring maximum level. S-12
Transaction Summary GS Momentum Builder Multi-Asset 5 ER Index-Linked Certificates of Deposit due 2021 The following chart, which is based on historical information and hypothetical data, sets forth the monthly allocation on each base index observation day between each asset class from December 3, 2007 to May 1, 2014, with each bar representing a month. The historical index information from December 17, 2013 (the index launch date) to May 1, 2014 reflects the actual performance of the index. (In the chart, this historical information can be found to the right of the vertical solid line marker.) The hypothetical index data from March 3, 2011 to December 16, 2013 is based on the historical levels of the eligible underlying assets using the same methodology that is used to calculate the index. Hypothetical index data for the period from December 3, 2007 through March 2, 2011 was calculated using the same methodology that is used to calculate the index, provided that a proxy was used for the following eligible ETFs, in each case for the period of time that such eligible underlying asset was not in existence: ishares J.P. Morgan USD Emerging Markets Bond ETF (not in existence prior to December 19, 2007), Alerian MLP ETF (not in existence prior to August 25, 2010) and PowerShares Senior Loan Portfolio (not in existence prior to March 3, 2011). As a result, due to the varying weights of the eligible underlying assets and proxies, at any time during this period as much as 100% of the hypothetical index performance data was derived from proxy data. You should not take the historical index information or hypothetical index data as an indication of the future performance of the index. 100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% Cash Equivalent Inflation Commodities Alternatives Emerging Markets Fixed Income Equities 10.00% 0.00% Dec-07 Jun-08 Dec-08 Jun-09 Dec-09 Jun-10 Dec-10 Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 RISKS Please read the section entitled Additional Risk Factors Specific to Your Certificates of Deposit beginning on page S-21 of this disclosure statement supplement as well as the risks described under Risk Factors in the accompanying disclosure statement dated December 19, 2011. S-13
Q&A How do the CDs Work? On each interest payment date (including the interest payment date scheduled on the stated maturity date), we will pay you for each $1,000 face amount of your CDs a fixed rate of 1.00% per annum. On the stated maturity date, we will pay you for each $1,000 face amount of your CDs, an amount in cash equal to the sum of $1,000 plus the supplemental amount. The supplemental amount at maturity will be based on the performance of the GS Momentum Builder Multi- Asset 5 ER Index, as measured from the trade date to and including the determination date (to be set on the trade date, and is expected to be June 23, 2021, subject to adjustment). To determine your payment at maturity, we will first calculate the percentage increase or decrease in the final index level (which will be the closing level of the index on the determination date) from the initial index level (set on the trade date), which we refer to as the index return. The index return may reflect a positive return (based on any increase in the index level over the life of the CDs) or a negative return (based on any decrease in the index level over the life of the CDs). The supplemental amount will equal: if the index return is greater than 7.00% (the final index level is greater than 107.00% of the initial index level), the product of (i) $1,000 times (ii) the upside participation rate of 150.00% times (iii) the index return minus 7.00%; or if the index return is equal to or less than 7.00% (the final index level is equal to or less than 107.00% of the initial index level), $0. Due to the formula used to determine the supplemental amount, you will not receive a supplemental amount unless the index return is greater than 7.00%, and, even if the index return is greater than 7.00%, your percentage return based on index performance will be less than the positive index return unless the index return exceeds 21.00%. Further, even if the index return equals or exceeds 21.00%, your percentage return based on index performance will be less than the product of the upside participation rate times the index return. As noted above, the supplemental amount will be calculated only on the determination date. Unlike conventional CDs, which may compound interest when they bear a simple interest rate, there is no compounding of any kind during the term of the CDs. What Does the Index Measure and Who Publishes It? The GS Momentum Builder Multi-Asset 5 ER Index (the index) measures the extent to which the performance of the exchange-traded funds and a money market position (together with the ETFs, the underlying assets) included in the index outperform the sum of the notional interest rate, which is a rate equal to 3-month USD LIBOR, plus the daily index maintenance fee of 0.50% per annum. The money market position reflects the notional returns accruing to a hypothetical investor from an investment in a notional overnight money account denominated in U.S. dollars that accrues interest at the overnight interest rate, which is a rate equal to the federal funds effective rate. The index rebalances monthly (and sometimes daily) from among 15 underlying assets that have been categorized in the following asset classes: equities; fixed income; emerging markets; alternatives; commodities; inflation; and cash equivalent. The index attempts to track the positive price momentum in the underlying assets, subject to limitations on volatility and a maximum weight for each underlying asset and each asset class, each as described below. Each month the index is rebalanced by first calculating the portfolio of underlying assets that would have provided the highest historical return during a return look-back period comprised of the prior six months, subject to a limit of 5% on the degree of variation in the daily closing prices or closing level, as applicable, of the aggregate of such underlying assets (a measure known as realized volatility ) over three different realized volatility look-back periods (the prior six months, three months and one month) and subject to a maximum weight for each underlying asset and each asset class. This results in three potential portfolios of underlying assets (one for each realized volatility look-back period). The weight of each underlying asset for a monthly base index rebalancing will equal the average of the weights of such underlying asset in these three potential portfolios. While the weight of each underlying asset for each monthly base index rebalancing will be determined on a single day (the base index observation day), the monthly rebalancing based on such revised weights will be implemented over a base index rebalancing period comprised of five base index rebalancing days, which are the first five index business days of each calendar month beginning on, and including, the base index observation day, subject to adjustment. As a result of monthly rebalancing, the index may include as few as four eligible underlying assets (as few as three eligible ETFs) and may not include some of the underlying assets or asset classes during the entire term of the CDs. In addition, if on any daily total return index rebalancing day, which is any index business day, the realized volatility of the index underlying assets exceeds the volatility cap of 6% for the applicable volatility cap period (the prior one month), the index will be rebalanced in order to reduce such realized volatility by ratably reallocating a portion of the exposure to S-14
the index ETFs to the money market position. Historically, a significant portion of the index exposure has been to the money market position, the return of which has been below 3-month USD LIBOR. The index reflects the return of the index underlying assets less the sum of the notional interest rate plus the daily index maintenance fee. Any cash dividend paid on an index ETF is deemed to be reinvested in such index ETF and subject to subsequent changes in the value of the index ETF. In addition, any interest accrued on the money market position is similarly deemed to be reinvested on a daily basis in such money market position and subject to subsequent changes in the federal funds effective rate. For further information regarding how the index value is calculated see The Index How is the index value calculated on any day? below. An index committee (as defined in The Index Who calculates and oversees the index? below) is responsible for overseeing the index and its methodology, while the index calculation agent calculates the value of the index and implements the methodology determined by the index committee. The index committee may exercise discretion in the case of any changes to the eligible ETFs, delayed rebalancing and index market disruption event or any potential adjustment event that occurs in relation to one or more eligible ETFs (as defined in The Index Could index market disruption events or corporate events impact the calculation of the index or the implementation of monthly base index rebalancing or a daily total return index rebalancing by the index calculation agent? below) that occurs in relation to one or more eligible ETFs. The index is determined, comprised and calculated by the index calculation agent without regard to the offered CDs. For further information, please see The Index on page S-53. For the purpose of this disclosure statement supplement: an eligible underlying asset is one of the ETFs or the money market position that is eligible for inclusion in the index on a base index observation day; an eligible ETF is one of the ETFs that is eligible for inclusion in the index on a base index observation day (when we refer to an ETF we mean an exchange traded fund, which for purposes of this disclosure statement supplement includes the following exchange traded products: SPDR S&P 500 ETF Trust, PowerShares DB Commodity Index Tracking Fund and SPDR Gold Trust); an index underlying asset is an eligible underlying asset with a non-zero weighting on any index business day; an index ETF is an ETF that is an eligible ETF with a non-zero weighting on any index business day; and an index business day is a day on which both (i) commercial banks and currency exchange markets settle payments and are open for general business in New York and (ii) the New York Stock Exchange is open for its regular trading session on such day. Are the CDs Insured by the Federal Deposit Insurance Corporation ( FDIC ) and How Will the CDs Rank Against Other Obligations of Goldman Sachs Bank USA? The CDs evidence deposit liabilities of Goldman Sachs Bank USA, which are covered by FDIC insurance, up to the maximum limits set by the Federal Deposit Insurance Act and the corresponding regulations and interpretations of the FDIC. In general, deposits are subject to a maximum FDIC insurance limit of $250,000 per depositor, or $250,000 per participant in the case of certain retirement accounts. These maximum limits are the total federal deposit insurance protection available for funds in your CDs, together with any other deposit accounts you may hold at Goldman Sachs Bank USA in the same right and capacity. In addition, the availability of FDIC insurance to an owner of a beneficial interest in a CD represented by a master certificate may be dependent upon, among other things, whether such interest and any intermediary interests are accurately and adequately disclosed on the records of the depositary, participants of the depositary and persons that hold interests through participants. The records of Goldman Sachs Bank USA will reflect that certain intermediaries hold the CDs. These intermediaries may hold the CDs for the benefit of their customers or for other intermediaries who in turn hold those interests for the benefit of others. Each intermediary in the chain of ownership must properly reflect the capacity in which funds are held and the identity of its customers in order for the FDIC to determine that federal deposit insurance is available to the ultimate depositor on a pass-through basis. In addition, the FDIC has taken the position that any interest payment and the supplemental amount are not insured by the FDIC until they are finally determined and accrued on the interest payment date or determination date, respectively. Also, FDIC insurance may not cover the CDs if a regulatory or statutory change renders the CDs ineligible for FDIC insurance coverage. Further, if Goldman Sachs Bank USA s status as an insured depository institution is terminated or suspended by the FDIC (including as a result of our actions) or is terminated by us, during the period of temporary insurance following the termination or suspension the FDIC insurance may not cover any amounts in excess of the face amount of the CDs and any interest accrued prior to the date of such termination or suspension. In addition, the FDIC has taken the position that any secondary market premium paid by you above the face amount of the CDs is not insured by the FDIC. In the S-15