New Issue: Wachovia sells $6.336 million 9.25% enhanced yield securities linked to Pulte Homes

By Jennifer Chiou

New York, March 30 - Wachovia Corp. priced a $6.336 million offering of 9.25% 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.

Payment at maturity will be determined according to the performance of Pulte Homes stock. If the stock trades at or below $18.51, the knock-in price, during the life of the notes and closes below $26.44, the initial share price, on Feb. 27, 2008, investors will receive a number of Pulte Homes shares equal to $1,000 divided by the initial share price. The knock-in price is 70% of the initial share price.

Otherwise, investors will receive par in cash.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Pulte Homes, Inc.
Amount:	$6.336 million
Maturity:	April 10, 2008
Coupon:	9.25%, payable quarterly
Price:	Par
Payout at maturity:	If Pulte Homes stock trades at or below the knock-in price during the life of the notes and finishes below the initial share price, 37.8215 shares of Pulte Homes stock; otherwise, par in cash
Initial share price:	$26.44
Knock-in price:	$18.51, 70% of $26.44
Exchange ratio:	37.8215
Pricing date:	March 29
Settlement date:	April 3
Agent:	Wachovia Securities
Fees:	2.25%

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