No. of Recommendations: 1
While I agree that the WFC common increasing to ~3.5 times the current value to force a conversion of WFC-L

Sorry, this should have read While I agree that the WFC common increasing to ~4.5 times the current value to force a conversion of WFC-L

It was late, and I forgot to adjust for the 130% requirement on WFC. That would mean that if WFC common reaches $203.72 (at current conditions - there are conditions for adjusting the conversion price downward in the prospectus), management could call a mandatory conversion for WFC-L.

The calculation on the possible BAC-L mandatory conversion at a common price of $65 is correct.

AJ
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