POPULAR, INC.
 

Filed Pursuant to Rule 424(b)(2)
File No. 333-73242

Pricing Supplement, dated September 24, 2003
to Prospectus dated November 19, 2001

POPULAR, INC. LOGO

Medium-Term Notes, Series 5
Due From Nine Months to 30 Years From Date of Issue

     
PRINCIPAL AMOUNT   $10,000,000.00
ORIGINAL ISSUE DATE   September 30, 2003
MATURITY DATE   September 30, 2005
GLOBAL NOTE   Yes
INITIAL INTEREST RATE   2.40%
INTEREST RATE BASIS   Fixed
INDEX MATURITY   N/A
SPREAD   N/A
CUSIP   73317PAE9
INTEREST RATE RESET PERIOD   N/A
INTEREST PAYMENT PERIOD   The notes will pay interest on each March 31 and September 30, commencing on March 31, 2004, and at maturity

The proceeds from the issuance of the Note to which this Pricing Supplement relates will used for:

    general corporate purposes, including investments in, or extensions of credit to, existing and future subsidiaries
 
    repayment of outstanding borrowings.