New Issue: Wachovia prices $8.323 million 11.25% enhanced yield securities linked to Toll Brothers

By Angela McDaniels

Seattle, April 28 - Wachovia Corp. priced $8.323 million of 11.25% enhanced yield securities due May 15, 2007 linked to Toll Brothers Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Toll Brothers Inc.
Amount:	$8.323 million
Maturity:	May 15, 2007
Coupon:	11.25%, payable quarterly
Price:	Par
Payout at maturity:	Par unless Toll Brothers stock falls below knock-in price of $24.48 during the life of the notes and finishes below the initial price of $32.64, in which case 30.6373 Toll Brothers shares
Initial share price:	$32.64
Knock-in price:	$24.48, 75% of initial price
Exchange ratio:	30.6373 Toll Brothers shares, equal to par divided by initial share price
Pricing date:	April 27
Settlement date:	May 2
Listing:	"WAC.D" on American Stock Exchange
Underwriter:	Wachovia Securities

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