I'm getting really tired of all these dumb questions and statements. PBLS may be screwing us. I don't know. But people saying things like this and making statements that all the Series III preferreds went to PA or are being used as a poison pill, neither being supported by any basis in fact or common sense.
To your question. Of course not. As long as the A/S is 1.75 B, then they can't issue more than that. The 167 going in for the conversion on the Series III are being c-o-n-v-e-r-t-e-d. Even if they were reissued, then the 167 simply replaces the 167 that came in. Jesus.
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