Published on 4/28/2006 in the Prospect News Convertibles Daily.
New Issue: Wachovia prices $8.323 million 11.25% enhanced yield securities linked to Toll Brothers
By Angela McDaniels
Seattle, April 28 - Wachovia Corp. priced $8.323 million of 11.25% enhanced yield securities due May 15, 2007 linked to Toll Brothers Inc. stock, according to a 424B5 filing with the Securities and Exchange Commission.
Issuer: | Wachovia Corp.
|
Issue: | Enhanced yield securities
|
Underlying stock: | Toll Brothers Inc.
|
Amount: | $8.323 million
|
Maturity: | May 15, 2007
|
Coupon: | 11.25%, payable quarterly
|
Price: | Par
|
Payout at maturity: | Par unless Toll Brothers stock falls below knock-in price of $24.48 during the life of the notes and finishes below the initial price of $32.64, in which case 30.6373 Toll Brothers shares
|
Initial share price: | $32.64
|
Knock-in price: | $24.48, 75% of initial price
|
Exchange ratio: | 30.6373 Toll Brothers shares, equal to par divided by initial share price
|
Pricing date: | April 27
|
Settlement date: | May 2
|
Listing: | "WAC.D" on American Stock Exchange
|
Underwriter: | Wachovia Securities
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.