By Laura Lutz
Des Moines, Dec. 29 - Wachovia Corp. priced a $6 million issue of 0% enhanced growth securities due June 30, 2008 linked to a basket of indexes, according to a 424B5 filing with the Securities and Exchange Commission.
The basket contains the Russell 1000 Growth index weighted at 30%, Russell 1000 Value index weighted at 30%, S&P MidCap 400 index weighted at 10%, Russell 2000 index weighted at 10% and MSCI EAFE index weighted at 20%.
The payout at maturity will be par plus 110% of any positive return on the basket. The payout will be capped at $11.60 per $10.00 principal amount.
If the final basket level is less than the initial basket level, the payout at maturity will be par minus the decline in the basket.
Wachovia Securities is the underwriter.
| Issuer: | Wachovia Corp.
|
| Issue: | Enhanced growth securities
|
| Underlying basket: | Russell 1000 Growth index weighted at 30%, Russell 1000 Value index weighted at 30%, S&P MidCap 400 index weighted at 10%, Russell 2000 index weighted at 10%, MSCI EAFE index weighted at 20%
|
| Amount: | $6 million
|
| Maturity: | June 30, 2008
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 110% of any basket gain, capped at $11.60; investors share in any basket decline
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 29
|
| Underwriter: | Wachovia Securities
|
| Fees: | 1.75%
|
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