fwp
 

Filed Under Rule 433
Dated October 25, 2007
File No. 333-130929
()
Final Term Sheet
     
Issuer:
  Washington Mutual, Inc. (Ticker: WM)
 
    
Security:
  Subordinated notes
 
    
Maturity:
  November 1, 2017
 
    
Aggregate
Principal Amount:
  $500,000,000 
 
    
Interest Rate:
  7.250% per annum
 
    
Interest Payment
Dates:
  On each May 1 and November 1, commencing on May 1, 2008
 
    
Trade Date:
  10/25/2007 
 
    
Settlement date:
  T+5 (November 1, 2007) 
 
    
Public Offering
Price:
  99.377% plus accrued interest, if any, from November 1, 2007 if settlement occurs after that date.
 
    
Benchmark
Treasury:
  4.750% due August 15, 2017 
 
    
Treasury Yield:
  4.339% 
 
    
Spread to Benchmark Treasury:
  3.00% 
 
    
Re-offer Yield:
  7.339% 
 
    
Joint
Book-Runners:
  Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Lehman Brothers Inc. and Morgan Stanley & Co. Incorporated
 
    
Co-Managers:
  Keefe, Bruyette & Woods, Inc., Cabrera Capital Markets, LLC, Williams Capital Management, LP
 
    
CUSIP:
  939322 AY9 

 

 

     
Listing:
  None 
 
    
Ranking:
  The notes will be subordinate and junior in right of payment to the prior payment in full of all of our senior debt. At June 30, 2007, we had issued and outstanding an aggregate principal amount of $5.9 billion in senior debt and $2.4 billion in subordinated debt (not including debt issued by our subsidiaries). The notes will rank on a parity with all other subordinated debt other than the junior subordinated notes described below. The notes will be senior to the junior subordinated notes and to our common stock and preferred stock, and will be senior to any other class of capital stock which may be authorized and issued.
This communication is intended for the sole use of the person to whom it is provided by us.
The issuer has filed a registration statement, including a prospectus, with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-888-227-2275 (Ext. 2663) (Barclays Capital Inc.), 1-800-221-1037 (Credit Suisse Securities (USA) LLC), 1-888 603 5847 (Lehman Brothers Inc.) or 1-866-718-1649 (Morgan Stanley & Co. Incorporated).