FLAGSTAR BANK, NATIONAL ASSOCIATION's FLG-P-U is an exchange-traded baby bond in the Savings Institutions, Not Federally Chartered sector. At a recent price of $40.90, FLG-P-U yields 7.33% on its $50 liquidation preference and 6% coupon. It trades at a discount of 18.2% to par. The issue is cumulative, callable on or after 2007-11-04. Distributions are paid quarterly. Figures are derived from market data and SEC filings; confirm details in the prospectus before investing.