Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[Lawrence 147]

Close but not right. Since this security will be paid in runoff notes, you will be waiting on those notes to ne converted to cash. Also like I said in an earlier post because this security is subrogated to the bonds and their contract rate interest all the cash available will be going to the senior bonds. To receive cash the runoff notes must be converted by the liquidating trust; then the S/B must be paid in full first, then anything left will be paid in cash. In other words you will still be waiting for a cash payment. Also your new company shares may never trade on the open market so there is a small problem there as well.