Perhaps I'm missing something in the PDS, but I can't find...

Perhaps I'm missing something in the PDS, but I can't find anything to suggest that the CPUs will be converted at par.

Can anyone point me to the page number in the PDS to suggest par?

Here is the sort of information I can find in the PDS (page v):

"Also, the number of Units issued for each CPU on conversion (other than in respect of accumulated unpaid distributions) is bound by parameters based on the Unit price at the time, with the current maximum number of Units into which a CPU can convert being 205 Units and the current minimum number being 44 Units."

Then, importantly, on page 4:

" In addition, the maximum conversion number of Units on conversion is 205. That means that, if the price of Units on conversion is below $0.50, CPU Holders will receive Units which are worth less than the CPUs which are being converted." (emphasis added)

The above suggests to me that the CPUs will not be converted at par. Instead, at current URF prices (i.e., 25 cents), one CPU would be worth $51.25, if converted today.