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Junior Subordinated Debenture

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Title:

Junior Subordinated Debenture

Entities:

Pioneer Financial Services, Inc.

Date:

2003

Size:

Preview shows 2KB of 15KB total

Price:

$38

ID:

#161305

► Financing ► Debentures ► Subordinated ► Junior Subordinated Debentures
► Miscellany

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                              FORM OF DEBENTURE

              Incorporated under the laws of the State of Missouri
                        PIONEER FINANCIAL SERVICES, INC.
                          Junior Subordinated Debenture


Amount $____________________                                          No._______

Registered Owner:__________________________________________

     For value received, Pioneer Financial Services, Inc. (the "Company")
promises to pay to the Registered Owner or registered assigns the principal
amount of ____________ thousand dollars ($__________) on or prior to the
Maturity Date, and to pay interest thereon at the rate of ___% per annum from
the Issue Date hereof, or from the most recent date to which interest has been
paid, all as follows:

  Issue    Principal            Maturity    Interest    Interest    Interest
  Date      Amount      Term      Date        Rate        Due        Payment




The Debentures are issuable only as registered Debentures without coupons in
denominations of one thousand dollars ($1,000.00) or any multiple thereof. The
holder of this Debenture may elect either: (i) to have interest on the Principal
Amount compound on each anniversary of the Issue Date until paid in full on the
Maturity Date; (ii) to receive the Interest Payment in cash annually on the
anniversary of the Issue Date; or (iii) if the original Principal Amount of this
Debenture exceeds ten thousand dollars ($10,000.00), in return for one-half of
one percent (.5%) reduction in the Interest Rate, to receive one-twelfth (1/12)
of the Interest Payment in cash monthly. Interest payable for any month or
portion of a month will be computed on the basis of the number of days elapsed
in a 360-day year of twelve 30-day months.

     Annual Interest Payments will be made no later than the anniversary of the
Issue Date. Each monthly Interest Payment installment or portion thereof, will

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