New Issue: Wachovia prices $8.155 million 9.375% enhanced yield securities linked to Transocean

By Angela McDaniels

Seattle, April 28 - Wachovia Corp. priced $8.155 million of 9.375% enhanced yield securities due May 15, 2007 linked to Transocean Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Transocean Inc.
Amount:	$8.155 million
Maturity:	May 15, 2007
Coupon:	9.375%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Transocean stock falls below knock-in price of $60.2475 during the life of the notes and finishes below the initial price of $80.33, in which case 12.4486 Transocean shares
Initial share price:	$80.33
Knock-in price:	$60.2475, 75% of initial price
Exchange ratio:	12.4486 Transocean shares, equal to par divided by initial share price
Pricing date:	April 27
Settlement date:	May 2
Listing:	"WAC.C" on American Stock Exchange
Underwriter:	Wachovia Securities

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