WaMu CDS will recover 57 pct after auction

NEW YORK NEW YORK, Oct 23 (Reuters) - Sellers of protection on bankrupt Washington Mutual Inc will have to pay out 43 percent of the insurance they sold, based on the results of an auction on Friday to determine the value of the credit default swaps.

The final value of the contracts will be 57 percent, according to results published by auction administrators Creditex and Markit.

(Reporting by Karen Brettell; Editing by James Dalgleish) Keywords: WASHINGTONMUTUAL SWAPS/ Chuck Mikolajczak cm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.