New Issue: Wachovia sells $7.558 million 14% enhanced yield securities linked to SanDisk

By Laura Lutz

Washington, Nov. 29 - Wachovia Corp. priced $7.558 million of 14% enhanced yield securities due Dec. 5, 2007 linked to SanDisk Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of SanDisk stock. If the stock trades at or below $31.34, the knock-in price, and closes below $44.77, the initial price, between Nov. 28, 2006 and Nov. 28, 2007, investors will receive a number of SanDisk shares equal to $1,000 divided by the initial stock price. The knock-in price is 70% of the initial price.

Otherwise, investors will receive par in cash.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	SanDisk Corp.
Amount:	$7.558 million
Maturity:	Dec. 5, 2007
Coupon:	14%, payable quarterly
Price:	Par
Payout at maturity:	If SanDisk stock closes below the knock-in price during the life of the notes and finishes below the initial price, 22.3364 shares of SanDisk stock; otherwise par in cash
Initial price:	$44.77
Knock-in price:	$31.34
Exchange ratio:	22.3364
Pricing date:	Nov. 28
Settlement date:	Dec. 1
Underwriter:	Wachovia Securities
Agent fee:	2.25%
Distribution:	Off shelf

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