New Issue: Wachovia sells $31.9 million 16.5% enhanced yield securities linked to Ford

By Susanna Moon

Chicago, Sept. 5 - Wachovia Corp. priced $31.92 million of 16.5% enhanced yield securities due June 5, 2008 linked to Ford Motor Co. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The payout at maturity will be par unless Ford stock falls below the knock-in price of $5.467 during the life of the notes and the final stock price is less than the initial price of $7.81, in which case investors will receive 128.041 Ford shares.

Wachovia Capital Markets, LLC is the underwriter.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Ford Motor Co. (NYSE: F)
Amount:	$31,917,000
Maturity:	June 5, 2008
Coupon:	16.5%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Ford stock falls below knock-in price of $5.467 during the term of notes and the final stock price is less than the initial price of $7.81, in which case 128.041 Ford shares
Initial price:	$7.81
Knock-in price:	$5.467, or 70% of initial price
Exchange ratio:	128.041 Ford shares, equal to $1,000 divided by $7.81
Pricing date:	Aug. 31
Settlement date:	Sept. 6
Underwriter:	Wachovia Capital Markets, LLC
Fees:	1.75%

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