better in timpb than tim, page-2

I had a quick look at TIMPB the other day and could quite easily be wrong, but do you get the opportunity to get the cash back (i.e. $2.05) or does it convert at a minimum price of $2.05, ie $1.65 only buys you one share, or something else? I read it as conversion at $2.05, so not brillinat in that case, unless TIM shareprice suddenly jumps up.
I hold TIM.