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Re: FOFreddie post# 604323

Tuesday, 04/14/2020 3:15:51 PM

Tuesday, April 14, 2020 3:15:51 PM

Post# of 797116

Regarding the upside at $6 you may be right because I would agree the JPS gets par and probably par plus unpaid divs. If the valuation approaches the $14 level then common is probably clearly the better trade.



Why would there be unpaid divs included? All the prefs are non-cumulative and by statute, any missed or unpaid divs for whatever reason do not accrue.

Unless you mean via settlement... but then they would go above and beyond the law to offer par + extra divs.