New Issue: Wachovia prices $22.34 million 10.25% enhanced yield securities linked to Valero

By Jennifer Chiou

New York, Feb. 28 - Wachovia Corp. priced $22.34 million of 10.25% enhanced yield securities due March 12, 2007 linked to Valero Energy Corp. stock, according to a 424B5 filing with the Securities and Exchange Commission.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Valero Energy Corp.
Amount:	$22.34 million
Maturity:	March 12, 2007
Coupon:	10.25%, payable quarterly
Price:	Par
Yield:	10.25%
Payout at maturity:	Par unless Valero stock falls below knock-in price of $41.5875 during term of notes and the final stock price is less than the initial price of $55.45, in which case a number of Valero shares equal to $1,000/$55.45
Knock-in price:	$41.5875, 75% of initial price of $55.45
Pricing date:	Feb. 27
Settlement date:	March 2
Listing:	"WDB.Z" on American Stock Exchange
Underwriter:	Wachovia Securities

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