Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[Donotunderstand]

Lawrence

Interesting

I do wonder why that would be

The securities have a cusip and if the sale was done by a brokerage of repute - then the owneship would transfer

The buyer I assume gets ACCRUED INTEREST as is the case in a purchase of any bond

So as a seller you owe the accrued interest when you sell -- but the buyer should pay the agreed price which is a smidge higher before x date then when far from it

I buy premium and discount bonds all the time - and I have never seen an issue of the buyer or seller owing THAT non interest difference between PAR and the agreed to price

(interest paid inkind might be a wrinkle but right now its 1/4 of 13%)

??