New Issue: Wachovia sells $58.05 million 13.15% enhanced yield securities linked to General Electric

By Susanna Moon

Chicago, March 24 - Wachovia Corp. priced $58.05 million of 13.15% enhanced yield securities due March 30, 2009 linked to General Electric Co. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be the final stock price multiplied by the share ratio of 0.915, subject to a cap of $36.51, plus a supplemental performance amount.

The supplemental amount will be the greater of zero and the final stock price minus the upper strike price of $41.0738 - or 12.5% above the initial stock price - multiplied by the participation rate of 65%.

Wachovia Capital Markets, LLC is the underwriter.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	General Electric Co. (NYSE: GE)
Amount:	$58,050,900
Maturity:	March 30, 2009
Coupon:	13.15%, payable quarterly
Price:	Par of $36.51
Payout at maturity:	Final stock price multiplied by 0.915, subject to a cap of $36.51, plus a supplemental performance amount that will be the greater of zero and the final stock price minus the upper strike price multiplied by the participation rate of 65%
Initial price:	$36.51
Upper strike price:	$41.0738, or 12.5% above the initial price
Pricing date:	March 19
Settlement date:	March 27
Underwriter:	Wachovia Capital Markets, LLC
Fees:	0.05%

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