Don't agree with the last comment. Investors in GNSPA as with all hybrids chose to invest for lower return and lower risk. There is no or little equity upside when investing in hybrids and investors choose to sacrifice this for yield. There is a minimum conversion price with GNSPA which made it a higher risk investment than most other hybrids and that risk is now quite real if issuer decides to convert to equity. At conversion of 23 cents or wherever that min price is, GBSPA holders face serious hair-cut on face value if that should occur.
GNS Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
