This is better than the P's? from the prospectus (at the top) "Each unit being offered consists of: • a preferred security issued by Washington Mutual Capital Trust 2001 (the "Trust"), having a stated liquidation amount of $50" so each WAHUQ should equal 50 Newco shares in my perfect world. This is better than the P's at 17 to 1? but not likely to play out this way.