Do auto-renewable subscriptions send an SKPaymentTransactionStatePurchased transaction when they auto-renew?

Does the AppStore send out a transaction when it auto-renews an auto-renewable subscription? If so, can it reliably be detected by an App the next time the App loads if it sets itself as an observer:

[[SKPaymentQueue defaultQueue] addTransactionObserver:self];

Will the new auto-renewed transaction make a call to:

-(void)paymentQueue:(SKPaymentQueue *)queue updatedTransactions:(NSArray *)transactions

with transaction.transactionState==SKPaymentTransactionStatePurchased?

If so, great. If not, does this mean you must examine all transactions every time an auto-renewable subscription approaches expiration using:

 [[SKPaymentQueue defaultQueue] restoreCompletedTransactions]; 

Thanks...