New Issue: Wachovia sells $10.772 million 9.75% enhanced yield securities linked to Goldcorp

By Jennifer Chiou

New York, June 1 - Wachovia Corp. priced a $10.772 million offering of 9.75% enhanced yield securities due June 5, 2008 linked to the common stock of Goldcorp Inc., according to a 424B5 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Goldcorp stock. If the stock trades at or below $18.07, the knock-in price, during the life of the notes and closes below $24.09, the initial share price, investors will receive a number of Goldcorp shares equal to $1,000 divided by the initial share price. The knock-in price is 75% of the initial share price.

Otherwise, investors will receive par in cash.

Issuer:	Wachovia Corp.
Issue:	Enhanced yield securities
Underlying stock:	Goldcorp Inc.
Amount:	$10.772 million
Maturity:	June 5, 2008
Coupon:	9.75%, payable quarterly
Price:	Par
Payout at maturity:	If Goldcorp stock trades at or below the knock-in price during the life of the notes and finishes below the initial share price, 41.511 shares of Goldcorp stock; otherwise, par in cash
Initial share price:	$24.09
Knock-in price:	$18.07, 75% of $24.09
Exchange ratio:	41.511
Pricing date:	May 31
Settlement date:	June 5
Agent:	Wachovia Securities
Fees:	2.25%

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