Patent ID: 7249077

Claim:
A method for issuing and redeeming an investment instrument that entitles its current holder to elect to receive at a maturity date specified in said instrument as first issued either a minimum lump sum cash payment specified by said instrument or to instead receive a specified minimum annuity income after said maturity date, said method comprising, in combination, the steps of: issuing said instrument denominated as a number of units or shares each of which as issued entitles said current holder of said instrument to receive a specified monetary unit of a specified currency payable at periodic calendar intervals after said maturity date, and paying to said current holder of said instrument at said maturity date either said minimum lump sum cash payment specified by said instrument as issued or, in the alternative and at the option the said current holder, transferring to said current holder at said maturity date an annuity which entitles said holder to receive for each of said units or shares at least said specified monetary unit of said specified currency payable at said periodic calendar intervals as specified in said instrument as issued.