New Issue: Wachovia prices $7.5 million 14.5% enhanced yield securities linked to Las Vegas Sands

By Angela McDaniels

Tacoma, Wash., Dec. 3 - Wachovia Corp. priced $7.5 million of enhanced yield securities due Sept. 2, 2008 linked to the common stock of Las Vegas Sands Corp., according to a 424B5 filing with the Securities and Exchange Commission.

The nine-month notes will pay 10.875% for an annualized rate of 14.5%. Interest is payable monthly.

The payout at maturity will be par unless Las Vegas Sands stock falls by more than 35% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the initial share price.

Wachovia Capital Markets, LLC is the underwriter.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Las Vegas Sands Corp. (NYSE: LSV)
Amount:	$7,536,000
Maturity:	Sept. 2, 2008
Coupon:	14.5%, payable monthly
Price:	Par
Payout at maturity:	If Las Vegas Sands stock falls below the knock-in price during the life of the notes and finishes below the initial share price, 8.8535 Las Vegas Sands shares; otherwise, par
Initial share price:	$112.95
Knock-in price:	$73.417, 65% of initial share price
Pricing date:	Nov. 29
Settlement date:	Dec. 4
Underwriter:	Wachovia Capital Markets, LLC
Fees:	2%

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