New Issue: Wachovia prices $45.57 million absolute return range notes linked to S&P 500

By Laura Lutz

Des Moines, July 2 - Wachovia Corp. priced a $45.566 million issue of 0% absolute return range notes due Dec. 30, 2008 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

If the index remains within the upper and lower barriers during the life of the notes, the payout at maturity will be par plus the absolute value of any index change. The upper barrier is 120% of the initial index level, and the lower barrier is 80% of the initial index value.

If the index closes outside of the barriers at any time, investors will receive par.

Wachovia Securities is the underwriter.

Issuer:	Wachovia Corp.
Issue:	Absolute return range notes
Underlying index:	S&P 500 index
Amount:	$45.566 million
Maturity:	Dec. 30, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus absolute value of any index change if index stays between upper and lower barriers during life of the notes; otherwise, par
Initial index level:	1,505.71
Upper barrier:	1,806.85, 120% of initial level
Lower barrier:	1,204.57, 80% of initial level
Pricing date:	June 28
Settlement date:	July 3
Underwriter:	Wachovia Securities
Fees:	1.75%

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