and in addition receive 7 an immediate

I cash

adjustment ,

Here’s an example of the

cash adiu

*Olher amoonls in proportion.

stment on a $1000“ bond . ~

VICTORY nouns 4V2% 25 YEAR 4%% 14 Imp 33/4% 7 YEAR 3% 3% YEA!

(5th V.l.) 3% due Jan. l, W”

(6th v.1.) 3% due June 'I, 1960

(79h V1.) 3% due Feb. 1,1962

(8lh V.L) 3% due Oct. I, 1963

(9th V.L.l 3%

$25.00 $25.00 $25.00 $22.50 $22.50 $22.50

$12.50 $12.50 $12.50 (with Aug. 'lsl coupon retained by owner)

$11.50 $11.50 N°'

$15.00 $12.50

Not Exchangeable ‘

Not

Exchangeable Exchangeable

$15.00 $15.00 Not

Not

50° 59!."- ‘n ‘966 (Sept. lslcoupan must be attached) Exchangeable Exchangeable '

Q

( k,”

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