New Issue: Wachovia prices $36.478 million 19% enhanced yield securities linked to General Motors

By Jennifer Chiou

New York, Aug. 1 - Wachovia Corp. priced $36.478 million of 19% enhanced yield securities due May 5, 2008 linked to General Motors Corp. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless General Motors stock falls below the knock-in price of $24.46 during the life of the notes and the final stock price is less than the initial price of $32.61, in which case investors will receive 30.6654 General Motors shares.

Wachovia Securities is the underwriter.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	General Motors Corp.
Amount:	$36.478 million
Maturity:	May 5, 2008
Coupon:	19%, payable quarterly
Price:	Par
Payout at maturity:	Par unless General Motors stock falls below the knock-in price of $24.46 during the term of the notes and the final stock price is less than the initial price of $32.61, in which case 30.6654 General Motors shares
Initial price:	$32.61
Knock-in price:	$24.46, 75% of initial price of $32.61
Exchange ratio:	30.6654 General Motors shares, equal to $1,000 divided by $32.61
Pricing date:	July 30
Settlement date:	Aug. 2
Underwriter:	Wachovia Securities
Fees:	1.75%

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