Washington Mutual Preferred fka WAMPQ

[unevilfavouredness]

So, the idea is just hold and wait for this $1,000.00 and the divis in arrears? My friend and I own ten shares together. She and I took a "staycation" last year and with the money we saved set up a scottrade account at a local strip mall and brought our laptops and daytraded at our complex's clubhouse-pool and pretended we were in Tahiti or the Bahamas. So now you are telling me that the 10 shares of Wamu preffered, some day in the future would be redeamable for $10,000.00 and all past due dividends?

That prospectus-quote stated that it was for Class-R shares. These are CLass-P shares. What's the difference?