Replies to post #3018 on Washington Mutual WAHUQ Trust Prf (fka WAHUQ)

[Donotunderstand]

My brokerage today , in one account, for the sr paper, changed from non understandable to

Quantity - 4,486
Price - 100 (again this means percent of PAR0

Value - 4,486

So my brokerage says for the first time they believe this sr paper has PAR value (100% not some lower or higher percent) and that the PAR value they assigned is 1 dollar

They could just as easliy have said I have 4.486 bondst at 100 with a value of $4,486

So yes - your brokerage is using a PAR of One Dollar

And again it is not shares

And unlike stock where Par Value is a joke - here it is everything and then what % of PAR is the bond worth

e.g. a high coupon bond - high quality - say with 6.5% coupon and 5 years to go might trade 110. A low quality low coupond bond may trade 80. In both cases it is percent of PAR -which most of the time is 1,000 but this is very thinly traded quite unique paper