Fannie Mae Preferred S (FNMAS)

[feralcomprehension]

Except that 1:1 exchange is not substantiated anywhere. It's rumor only so far as I can tell.

Would love to see a real source on this, as then I would adjust my investment methods, but at this point I think that this 1:1 exchange started as a total fable and took on the tinge of reality because it was repeated so frequently. From a logical standpoint it doesn't make any sense, unless by 1:1 you mean that a common share in ForF will be exchanged for one common share in NewCo and that 1 ForF pref will be exchanged for one NewCo pref.

Highly unlikely.