New Issue: Wachovia prices $1.812 million 10.75% enhanced yield securities linked to Urban Outfitters

By Jennifer Chiou

New York, July 2 - Wachovia Corp. priced $1.812 million of 10.75% enhanced yield securities due July 10, 2008 linked to Urban Outfitters, Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless Urban Outfitters stock falls below the knock-in price of $18.02 during the life of the notes and the final stock price is less than the initial price of $24.03, in which case investors will receive 41.6146 Urban Outfitters shares.

Wachovia Securities is the underwriter.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Urban Outfitters, Inc.
Amount:	$1.812 million
Maturity:	July 10, 2008
Coupon:	10.75%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Urban Outfitters stock falls below knock-in price of $18.02 during the term of notes and the final stock price is less than the initial price of $24.03, in which case 41.6146 Urban Outfitters shares
Initial price:	$24.03
Knock-in price:	$18.02, 75% of initial price of $24.03
Exchange ratio:	41.6146 Urban Outfitters shares, equal to $1,000 divided by $24.03
Pricing date:	June 29
Settlement date:	July 5
Underwriter:	Wachovia Securities
Fees:	2.25%

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