Published on 6/1/2007 in the Prospect News Structured Products Daily.
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%
|
© 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.