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Wachovia to price 8% enhanced yield securities linked to Pulte Homes
By Laura Lutz
Washington, March 7 - Wachovia Corp. plans to price 8% enhanced yield securities due April 10, 2008 linked to the common stock of Pulte Homes, Inc., according to a 424B5 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The payout at maturity will be par unless Pulte Homes stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Pulte Homes shares equal to $1,000 divided by the initial share price.
Wachovia Securities will be the underwriter.
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