Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[DJN]

It's all in the I-BOX... Here you go...

WASHINGTON MUTUAL CAPITAL TRUST 2001

SEC filings: http://edgar.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1143930&owner=include&count=40

Total Outstanding Shares/Units: 10,073,595

WAHUQ - These are Trust preferred shares/units, and are the very first to get paid due to restructuring/liquidation, even before preferred shares.

Original face value $50 with a warrant to purchase 1.2081 shares of common stock of Washington Mutual,inc. There are only 10,073,595 shares/units trading.

WAHUQ shares were not issued directly by WMI, they were issued by WM Capital Trust 2001, as junior unsecured creditors to WMI.

WAHUQ shareholders are subordinate bondholders for WMI.

Holders will get paid after senior unsecured debts, and before other preferred shares of WMI. If WMI doesn't have enough assets to pay off WAHUQ the full $50/share, then the other two preferred stocks will get paid nothing.

Many people don't know WAHUQ is trust preferred stock, that means it is subordinate unsecured debt to WMI.

WaMu Capital Trust 2001 was created in 2001 solely for WMI to generate its capital funds in the tax benifit way. WMI borrowed $503.7M from the company's trust, and the trust issued and sold 10.08M preferred shares at $50/share for that amount. WMI has to pay back this $503.7M debt to the trust, then the trust would distribute to shareholders.