TPS - yes I forgot that. Does the TPS 4B get paid concurrently with the old preferreds and commons is something I don't know, and are they subject to a ceiling.
Agree. I think it was long ago established that $1bil would bring $100 each to a P. So, $100mil would bring $10. and $10bil would bring $1000.
Face is irrelevant. All proceeds are split 75/25 between prefs and commons regardless of the amount of the payout. The removal of the face cap on prefs was one of the quid pro quos that enabled commons to avoid being killed by absolute priority.
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