Wachovia to issue index call warrants linked to Wachovia Composite MLP index

By Laura Lutz

Des Moines, Oct. 1 - Wachovia Corp. plans to price index call warrants due Oct. 22, 2009 linked to the performance of the Wachovia Composite MLP index, according to a 424B5 filing with the Securities and Exchange Commission.

The maximum initial price is expected to be $6.50 per warrant.

The warrant strike level will be equal to the initial value of the index.

The cash settlement value of each warrant will be the notional amount of the warrants multiplied by the percentage change in the index from the pricing date to the exercise date. The cash settlement value is subject to a floor of par.

The notional amount, which will be set on the pricing date, is expected to be between $50.00 and $54.00 per warrant.

The warrants will be exercisable beginning sometime in 2007 and ending on Oct. 21, 2009. Any warrants that have not been exercised will be automatically exercised on Oct. 22, 2009.

Wachovia Securities and J.P. Morgan Securities Inc. will be the underwriters.

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