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Friday, November 15, 2019 4:17:40 PM
JPS, as all preferred, are capped under contract.
There is nothing in the contract that states this. Here's a link to the FNMAS circular. If what you claim is true, it should be in there somewhere.
FNMAS traded above par before conservatorship, and with a conversion to commons the juniors' par "ceiling" is removed entirely. Calabria put that on the table and nobody has removed it as of yet.
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