Wachovia to price 0% strategic access securities linked to index basket

By Laura Lutz

Des Moines, July 24 - Wachovia Corp. plans to price an issue of 0% strategic access securities due Dec. 30, 2010 linked to a basket of five indexes, according to a 424B5 filing with the Securities and Exchange Commission.

The basket consists of the Russell 1000 Growth index with a 30% weight, the Russell 1000 Value index with a 30% weight, the S&P MidCap 400 index with a 10% weight, the Russell 2000 index with a 10% weight and the MSCI EAFE index with a 20% weight.

At maturity or upon exercise of the exchange right, the payout will be par of $10 multiplied by the performance of the basket.

Investors may exercise their exchange rights during the first 10 calendar days of August 2009. In order to exercise the right, an investor must exchange at least 10,000 securities.

The securities are expected to price on July 26 and settle on July 31.

Wachovia Capital Markets, LLC is the underwriter.

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