New Issue: Wachovia prices $13.614 million 11.5% enhanced yield securities linked to Apple Computer

By Jennifer Chiou

New York, July 31 - Wachovia Corp. priced a $13.614 million issue of 11.5% enhanced yield securities due Aug. 1, 2007 linked to Apple Computer, Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Apple Computer, Inc.
Amount:	$13.614 million
Maturity:	Aug. 1, 2007
Coupon:	11.5%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Apple Computer stock falls below knock-in price of $44.38 during the life of the notes and finishes below the initial price of $63.40, in which case 15.7729 Apple Computer shares
Initial share price:	$63.40
Knock-in price:	$44.38, 70% of initial price
Exchange ratio:	15.7729 Apple Computer shares, equal to par divided by initial share price
Pricing date:	July 27
Settlement date:	Aug. 2
Underwriter:	Wachovia Securities

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.