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SECURITY DESCRIPTION: First Preferred Capital Trust IV, 8.15% Cumulative Trust Preferred Securities, liquidation amount $25 per share, guaranteed by First Banks Inc. (a private company) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 6/30/2008 at $25 per share plus accrued and unpaid dividends, maturing 6/30/2033, distributions of 8.15% ($2.0375) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record one business day prior to the payment date while the securities remain in global security form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 8.15% Subordinated Deferrable Interest Debentures due 6/30/2033 which were purchased from the company using the funds generated from the sale of the trust preferred securities.
