Wachovia to sell enhanced growth notes linked to index basket

By Angela McDaniels

Seattle, Nov. 3 - Wachovia Corp. plans to price an offering of zero-coupon enhanced growth securities due June 15, 2010 linked to a basket of indexes, according to a 424B5 filing with the Securities and Exchange Commission.

The basket contains equal weights of the Dow Jones Euro Stoxx 50, FTSE 100, MSCI Taiwan, Nikkei 225 and S&P/ASX 200 indexes.

If the final basket level is greater than the initial basket level, the payout at maturity will be par plus the return on the index multiplied by a percentage, which is expected to be between 125% and 130% and will be determined at pricing.

If the final basket level is equal to the initial basket level, the payout will be par.

If the final basket level is less than the initial basket level, investors will lose half of a percentage point for each 1% decline in the basket level.

Wachovia Securities will be the underwriter.

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