New Issue: Wachovia prices $7.2 million absolute return range notes linked to S&P 500

By Angela McDaniels

Seattle, Oct. 2 - Wachovia Corp. priced $7.2 million of 0% absolute return range notes due Jan. 5, 2009 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the absolute value of the index return unless the index crosses the upper or lower barriers during the life of the notes, in which case the payout will be par.

The upper and lower barriers are 15.5% above and below the initial index level, respectively.

Wachovia Securities is the underwriter.

Issuer:	Wachovia Corp.
Issue:	Absolute return range notes
Underlying index:	S&P 500
Amount:	$7,226,000
Maturity:	Jan. 5, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	If the index is never above the upper barrier or below the lower barrier, par plus the absolute value of the index return; otherwise, par
Initial index level:	1,526.75
Upper barrier:	1,763.40, 115.5% of initial level
Lower barrier:	1,290.10, 84.5% of initial level
Pricing date:	Sept. 28
Settlement date:	Oct. 3
Underwriter:	Wachovia Securities
Fees:	1.75%

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