New Issue: Wachovia prices $10.252 million 9.25% enhanced yield securities linked to Nabors Industries

By Jennifer Chiou

New York, June 28 - Wachovia Corp. priced $10.252 million of 9.25% enhanced yield securities due July 10, 2007 linked to Nabors Industries Ltd. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Nabors Industries Ltd.
Amount:	$10.252 million
Maturity:	July 10, 2007
Coupon:	9.25%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Nabors Industries stock falls below knock-in price of $24.2325 during the life of the notes and finishes below the initial price of $32.31, in which case 30.9502 Nabors Industries shares
Initial share price:	$32.31
Knock-in price:	$24.2325, 75% of initial price
Exchange ratio:	30.9502 Nabors Industries shares, equal to par divided by initial share price
Pricing date:	June 27
Settlement date:	June 30
Underwriter:	Wachovia Securities

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