Wachovia plans 0% enhanced growth securities linked to index basket

By Angela McDaniels

Seattle, Nov. 15 - Wachovia Corp. plans to price an issue of 0% enhanced growth securities due June 15, 2010 linked to a basket of indexes, according to an FWP 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.

The securities are expected to price on Nov. 28 and settle in December.

The payout at maturity will be par plus any positive return on the basket, which will be multiplied by a percentage that will be between 125% and 130% and will be determined at pricing.

If the final basket level is less than the initial basket level, the payout at maturity will be par minus 50% of the decline in the basket.

Wachovia Securities will be the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.