Wachovia to sell notes linked to Google

New York, Jan. 17 - Wachovia Corp. is planning an offering of notes in the Callable Enhanced Yield Securities structure linked to the common stock of Google Inc., according to a 424B5 filing with the Securities and Exchange Commission.

The notes will pay a coupon of 10% and mature on Feb. 1, 2007.

The price per security will be one-fortieth of Google's stock price.

At maturity, the securities will be exchanged for Google stock at the rate of one-fortieth of a share per note.

The notes will be callable from Aug. 1, 2006 at a price to give a specified yield to call. The level will be set at pricing and is expected to be between 185 and 22%.

Wachovia has applied to list the securities on the American Stock Exchange under the symbol "NKW."

Wachovia Securities will be the underwriter.

© 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.