Replies to post #37618 on Washington Mutual Preferred fka WAMPQ

[clawmann]

That's right. K's total face value is $500,000,000. There were only 500 K shares issued, each having a face value of $1,000,000. But all of the K shares out there are in reality fractional shares equal to 1/40,000th of one K share. Each of the fractional K shares therefore has a "face value" of $25.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63646633&txt2find=prospectus

There are 20,000,000 fractional K shares out there.
Each having a "face value" of $25.