New Issue: Wachovia prices $51 million 19.25% enhanced yield securities linked to General Motors

By Jennifer Chiou

New York, June 27 - Wachovia Corp. priced a $51 million issue of 19.25% enhanced yield securities due July 10, 2007 linked to General Motors Corp. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	General Motors Corp.
Amount:	$51 million
Maturity:	July 10, 2007
Coupon:	19.25%, payable quarterly
Price:	Par
Payout at maturity:	Par unless General Motors stock falls below knock-in price of $16.65 during the life of the notes and finishes below the initial price of $27.75, in which case 36.0360 General Motors shares
Initial share price:	$27.75
Knock-in price:	$16.65, 60% of initial price
Exchange ratio:	36.0360 General Motors shares, equal to par divided by initial share price
Pricing date:	June 26
Settlement date:	June 29
Listing:	"WAC.F" on American Stock Exchange
Underwriter:	Wachovia Securities

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