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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Pre-Effective Amendment No.
Post-Effective Amendment No. 15
File No. 33-4424
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 18
VANGUARD CONVERTIBLE SECURITIES FUND, INC.
(Exact Name of Registrant as Specified in Charter)
Vanguard Financial Center, P.O. Box 1100, Valley Forge, PA 19482
(Address of Principal Executive Offices)
Registrant's Telephone Number, including Area Code (610) 669-6000
Raymond J. Klapinsky, Secretary
Vanguard Financial Center, P.O. Box 1100
Valley Forge, PA 19482
(Name and Address of Agent for Service)
Approximate Date of Proposed Public Offering: November 29, 1996
It is proposed that this filing will become effective:
X On November 29, 1996 pursuant to paragraph (b) of Rule 485.
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CALCULATION OF REGISTRATION FEE UNDER THE SECURITIES ACT OF 1933
<TABLE>
<CAPTION>
Proposed Maximum Proposed Maximum Aggregate Amount
Title of Securities Amount Being Offering Price Offering of Registration
Being Registered Registered Per Unit Prices Fee
- ---------------- ---------- -------- ---------
<S> <C> <C> <C> <C>
Vanguard Convertible
Securities Fund, Inc. 1,750,461 $13.02(1) $22,791,002 $100(2)
- --------------
</TABLE>
(1) Net asset value on November 25, 1996 adjusted to the nearest cent.
(2) (a) The calculation of the maximum offering price and registration
fee is made pursuant to Rule 24e-2.
(b) Total number of shares of Vanguard Convertible Securities
Fund, Inc. (the "Fund") redeemed or repurchased during the
previous fiscal year was 4,585,892.
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(c) During the current fiscal year 2,860,779 shares of the Fund
were used for reduction pursuant to paragraph (c) of Rule
24f-2. No redeemed or repurchased securities were used for
reduction pursuant to Rule 24e-2 in previous filings of
Post-Effective Amendments during the current fiscal year.
(d) The amount of redeemed or repurchased securities being used
for such reduction in the amount being filed is 1,725,113
shares, leaving 25,348 shares for purposes of calculating
the registration fee.
FACING PAGE
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
15th Post-Effective Amendment
Securities of Open-End Management Investment Companies
A. Exact name of Company as specified in Charter:
VANGUARD CONVERTIBLE SECURITIES FUND, INC.
B. Complete address of Company's principal executive offices:
100 Vanguard Boulevard
P.O. Box 1100
Valley Forge, Pennsylvania 19482
C. Name and complete address of agent for service:
Raymond J. Klapinsky, Secretary
Vanguard Financial Center
P.O. Box 1100
Valley Forge, PA 19482
D. Title and amount of securities being registered under this 15th
Post-Effective Amendment: 1,750,461 Shares of Common Stock of
Vanguard Convertible Securities Fund, Inc., with a $.001 par value.
E. Proposed aggregate maximum offering price to the public of the
securities being registered calculated pursuant to Rule 475 (c):
$22,791,002
F. Amount of filing fee.
$100(1)
G. Approximate date of proposed public offering:
It is requested that this filing become effective on November 29,
1996 pursuant to paragraph (b) of Rule 485.
- -------------------
(1) (a) The calculation of the maximum offering price and registration
fee is made pursuant to Rule 24e-2.
(b) Total number of shares of Vanguard Convertible Securities
Fund, Inc. (the "Fund") redeemed or repurchased during the
previous fiscal year was 4,585,892.
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(c) During the current fiscal year 2,860,779 shares of the Fund
were used for reduction pursuant to paragraph (c) of Rule
24f-2. No redeemed or repurchased securities were used for
reduction pursuant to Rule 24e-2 in previous filings of
Post-Effective Amendments during the current fiscal year.
(d) The amount of redeemed or repurchased securities being used
for such reduction in the amount being filed is 1,725,113
shares, leaving 25,348 shares for purposes of calculating
the registration fee.
PARTS A-C
Incorporated by reference to the Prospectus, Statement of Additional
Information and Part C contained in Post-Effective Amendment No. 14 to
registrant's Registration Statement on Form N-1A, filed on March 1, 1996, all
of which remain unchanged.
Pursuant to the requirement of the Securities Act of 1933 and the Investment
Company Act of 1940, the Registrant certifies that is meets all the
requirements for effectiveness of this Registration Statement pursuant to Rule
485 (b) under the Securities Act of 1933 and has duly caused this
Post-Effective Amendment to this Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the Town of Valley
Forge and the Commonwealth of Pennsylvania, on this 27th day of November, 1996.
VANGUARD CONVERTIBLE SECURITIES FUND, INC.
By: (Raymond J. Klapinsky)
John C. Bogle*, Chairman
November 27, 1996
By: (Raymond J. Klapinsky)
John J. Brennan, President, Director and Chief Executive Officer
November 27, 1996
By: (Raymond J. Klapinsky)
Barbara B. Hauptfuhrer, Director
November 27, 1996
By: (Raymond J. Klapinsky)
Bruce K. MacLaury, Director
November 27, 1996
By: (Raymond J. Klapinsky)
Burton G. Malkiel, Director
November 27, 1996
By: (Raymond J. Klapinsky)
John C. Sawhill, Director
November 27, 1996
By: (Raymond J. Klapinsky)
John C. Sawhill, Director
November 27, 1996
By: (Raymond J. Klapinsky)
James O. Welch, Director
November 27, 1996
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By: (Raymond J. Klapinsky)
J. Lawrence Wilson, Director
November 27, 1996
By: (Raymond J. Klapinsky)
Richard F. Hyland*, Treasurer and Principal Financial Officer and Accounting
Officer November 27, 1996
*By Power of Attorney. See File Number 2-14336. January 23, 1990.
Incorporated by Reference.
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November 27, 1996
Vanguard Convertible Securities Fund, Inc.
P.O. Box 1100
Valley Forge, PA 19482
Gentlemen:
As a member of the Pennsylvania bar acting as Counsel to Vanguard
Convertible Securities Fund, Inc. (the "Fund"), I have examined the Fund's
Articles of Incorporation and other relevant documents and corporate records as
well as procedures and requirements relative to the issuance and sale of the
Fund's shares of common stock, with a $.001 par value. This examination
disclosed that there were approximately 12,966,513 shares of the Fund issued
and outstanding as of November 25, 1996.
Based on the foregoing, it is my opinion that:
1. The Fund is a valid and subsisting corporation of the State of
Maryland, authorized to issue one billion shares of its common stock, with a
$.001 par value per share.
2. Upon the effectiveness of Post-Effective Amendment No. 15 to its
Registration Statement on Form N-1A under the Act covering 1,750,461 shares of
the Fund, the Fund will, in jurisdictions where the Fund's shares are qualified
for sale, be authorized to make a public offering of such shares at prices
calculated in the manner disclosed in the Fund's then current Prospectus, which
shares, when so issued, will be lawfully issued, fully paid, and
non-assessable.
3. No material events requiring disclosure in the Fund's Prospectus,
other than those listed in paragraph (b)(1) of Rule 485 under the Act, have
occurred since the effective date of the Fund's most recent Post-Effective
Amendment, and Post-Effective Amendment No. 15 to the Fund's Registration
Statement can be properly filed under paragraph (b) of Rule 485.
I consent to the inclusion of this opinion as an Exhibit to such
Post-Effective Amendment No. 15 to the Fund's Registration Statement and to the
applications and registration statements filed in accordance with the
securities laws of the several jurisdictions in which the Fund's shares are to
be offered and I further consent to a reference in the Fund's Prospectus
concerning the substance of this opinion.
Very truly yours,
By: Raymond J. Klapinsky, Counsel
