SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
RULE 23C-2 NOTICE OF INTENTION
TO REDEEM SECURITIES
OF
FLAHERTY & CRUMRINE/
CLAYMORE PREFERRED SECURITIES INCOME
FUND INCORPORATED
301 E. Colorado Boulevard, Suite 720
Pasadena, CA 91101
(626) 795-7300
under the
Investment Company Act of 1940
Investment Company Act File No. 811-21129
The undersigned registered closed-end investment company
hereby notifies the Securities and Exchange Commission that it intends to redeem
securities of which it is the issuer, as set forth below in accordance with the
requirements of Rule 23c-2 under the Investment Company Act of 1940, as amended,
and states that it is filing this notice with the Commission pursuant to
permission granted by the Commission's staff fewer than 30 days prior to the
date set for redemption.
(1) TITLE OF THE CLASS OF SECURITIES OF FLAHERTY &
CRUMINE/CLAYMORE PREFERRED SECURITIES INCOME FUND INCORPORATED
(THE "FUND") TO BE REDEEMED:
Auction Market Preferred Stock, Series M7 (CUSIP #338478209),
Series T7 (CUSIP #338478308) Series W7 (CUSIP #338478407), Series TH7
(CUSIP #338478506), Series F7 (CUSIP #338478605), Series T28 (CUSIP
#338478704) and Series W28 (CUSIP #338478803), par value $.01 per
share, liquidation preference of $25,000 per share (the "Preferred
Stock").
(2) DATE ON WHICH THE SECURITIES ARE TO BE CALLED OR REDEEMED:
SERIES DATE
M7 May 27, 2008
T7 May 21, 2008
W7 May 22, 2008
TH7 May 23, 2008
F7 May 27, 2008
T28 May 21, 2008
W28 June 5, 2008
(3) APPLICABLE PROVISIONS OF THE GOVERNING INSTRUMENT PURSUANT TO WHICH THE
SECURITIES ARE TO BE CALLED OR REDEEMED:
The shares of Preferred Stock are to be redeemed pursuant to
Part I, Articles 8(a) and 8(c), of the Fund's Articles Supplementary
Establishing and Fixing the Rights and Preferences of Auction Market
Preferred Stock.
(4) THE NUMBER OF SHARES TO BE REDEEMED AND THE BASIS UPON WHICH THE SHARES
TO BE REDEEMED ARE TO BE SELECTED:
The Fund intends to redeem, on a pro rata basis by series (as
determined by the Depository Trust Company), the number of outstanding shares of
Preferred Stock set forth below:
SERIES NUMBER OF SHARES
M7 2,226
T7 2,226
W7 2,226
TH7 2,226
F7 2,226
T28 1,975
W28 1,975
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SIGNATURE
Pursuant to the requirement of Rule 23c-2 of the Investment Company Act of
1940, the Fund has duly caused this Notice of Intention to Redeem Securities to
be signed on its behalf by the undersigned, in the City of Pasadena and the
State of California, on this 1st day of May 2008.
FLAHERTY & CRUMRINE/
CLAYMORE PREFERRED SECURITIES INCOME
FUND INCORPORATED
By: /S/R. ERIC CHADWICK
Name: R. Eric Chadwick
Title: Chief Financial officer
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