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INITIALIZE

The INITIALIZE statement sets selected categories of data 
fields to predetermined values; it is functionally equivalent 
to one or more MOVE statements. INITIALIZE perform no action 
on FILLER areas and also OCCURS DEPENDING ON clause untouched.
INITIALIZE Moves spaces to alphabetic, alphanumeric, and 
alphanumeric-edited items and zeros to numeric items.


01 WS-RECORD.
      05 WS-NUMBER    PIC 9(09).
      05 WS-NAME      PIC X(10).
      05 WS-LOB       PIC X(03).


INITIALIZE WS-RECORD.
  This Moves zeros to WS-NUMBER and Spaces to WS-NAME and WS-LOB.


INITIALIZE – REPLACING: To move data with a specific constants
instead of Zeros and spaces.


Example Program :


INITIALIZE WS-RECORD REPLACING NUMERIC DATA BY 3 ALPHANUMERIC DATA BY “X”.

This above statement Moves 3 TO WS-NUMBER AND X is being moved 
to WS-NAME and WS-LOB.