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![midas79_ Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1172545701571682304.png) midas79 [@midas79_](/creator/twitter/midas79_) on x XXX followers
Created: 2025-07-16 04:05:50 UTC

@HoldenWalker99 @jbrandimore There is precedent for this. Citi $C prefs got offered exchange for commons, but the 8+% series got XX% of par and XXX% series only got 85%.

A sliding scale like that would only currently give ~70% to floating rate FnF JPS (div rates around X% right now)




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