KfW to issue notes linked to commodities basket via Wachovia

By Angela McDaniels

Seattle, Nov. 14 - KfW plans to price an issue of notes linked to a basket of commodities via Wachovia Securities, according to a 424B5 filing with the Securities and Exchange Commission.

The basket will include gold, West Texas Intermediate crude oil, zinc, aluminum, copper, nickel and lead.

Investors will receive a coupon, payable annually, unless any of the commodities falls to or below its barrier level on the interest determination date preceding the interest payment date. The barrier level for each commodity will be 70% of its initial price.

The payout at maturity will be par plus accrued interest. The notes will mature sometime in 2009.

The maturity and coupon will be determined at pricing.

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