### Comment:
I'm totally open to the possibility I'm wrong and an idiot.  
  
 http://www.fanniemae.com/resources/file/ir/pdf/stock-info/series_s_12062007.pdf - where in here does it mention the rate of commons in the scenario of a conversion? To me it seems like there's no conversion rights so it would need to be amended (if that's the route they go)

### REPLY:
I agree with you, I don't recall any place saying x number of commons.

### END.