Wachovia to price enhanced yield securities linked to Ford

By Laura Lutz

Des Moines, Oct. 4 - Wachovia Corp. plans to price an issue of enhanced yield securities due Aug. 15, 2007 linked to the common stock of Ford Motor Co.

Interest will be payable quarterly at a rate between 12% and 13%, with the exact level to be set on the pricing date.

At maturity, investors will receive par unless Ford stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price.

Wachovia Securities will be the underwriter.

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