Wachovia to price enhanced yield securities linked to Ford

By Devika Patel

New York, Aug. 10 - Wachovia Corp. plans to price enhanced yield securities due June 5, 2008 linked to the common stock of Ford Motor Co., according to a FWP filing with the Securities and Exchange Commission.

The securities will carry a coupon of 13.5% to 14.5%, payable quarterly. The exact coupon will be determined at pricing.

The initial stock price will be the closing price of Ford's stock on the pricing date.

The payout at maturity will be par unless Ford stock falls by 30% or more during the life of the securities and finishes below the initial share price, in which case the payout will be a number of Ford shares equal to the principal amount divided by the initial share price.

Wachovia Capital Markets, LLC will be the underwriter.

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