By Jennifer Chiou
New York, Oct. 2 - Wachovia Corp. priced a $1.5 million offering of 9% enhanced yield securities due Oct. 5, 2008 linked to a basket of commodity indexes, according to a 424B5 filing with the Securities and Exchange Commission.
The basket includes equal weights (20%) of the S&P GSCI Brent Crude Oil Excess Return index, the S&P GSCI RBOB Gasoline Excess Return index, the S&P GSCI Wheat Excess Return index, the S&P GSCI Nickel Excess Return index and the S&P GSCI Lead Excess Return index.
For each basket index, the payout will be $2.00 unless that index falls by 30% or more during the life of the securities and finishes below the initial level, in which case the payout will be $2.00 minus the index decline.
The payout at maturity will be the sum of the payouts for each basket index.
Wachovia Securities is the agent.
| Issuer: | Wachovia Corp.
|
| Issue: | Enhanced yield securities
|
| Underlying indexes: | Equal weights (20%) of the S&P GSCI Brent Crude Oil Excess Return index, the S&P GSCI RBOB Gasoline Excess Return index, the S&P GSCI Wheat Excess Return index, the S&P GSCI Nickel Excess Return index and the S&P GSCI Lead Excess Return index
|
| Amount: | $1.5 million
|
| Maturity: | Oct. 5, 2008
|
| Coupon: | 9%, payable quarterly
|
| Price: | Par of $10.00
|
| Payout at maturity: | Sum of the payouts for each basket index; for each basket index, payout will be $2.00 unless that index falls by 30% or more during the life of the securities and finishes below the initial level, in which case the payout will be $2.00 minus the index decline
|
| Pricing date: | Sept. 28
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| Settlement date: | Oct. 5
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| Agent: | Wachovia Securities
|
| Fees: | 1.75%
|
| Distribution: | Off shelf
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