Fortis Inc. Cumulative Redeemable Fixed Rate Reset First Preference Shares Series (FTS.PR.M)

Fortis Inc. Cumulative Redeemable Fixed Rate Reset First Preference Shares Series (FTS.PR.M $24.64)
- $24.64 P/E (TTM): 21.56X Cap: $37.26B
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Fortis Inc. Cumulative Redeemable Fixed Rate Reset First Preference Shares Series (FTS.PR.M $24.64)
- $24.64 P/E (TTM): 21.56X Cap: $37.26B
- View FTS.PR.M Profile
- View Questions on FTS.PR.M

Q: I own a substantial amount of Cumulative Redeemable FIXED RATE Reset First Preference Series M Cumulative shares, which I purchased for the initial price of $25.00 per share. I also purchased additional shares at a later date for around $20.00

The Series M shares can be converted into series N Cumulative Redeemable FLOATING RATE First Preference Shares on December 1. 2019 My question is:
Since today's value of the series M shares is around $16.60, What will be the price of the new Series N Shares? Does that mean an instant gain (RECOVERY) of $8.40 (to $25.00) after conversion to the series N shares or how does that work? Do you have any suggestions about how to act at the given time, including what to choose? Do I stay with my FIXED RATE shares, do I convert to the FLOATING RATE shares or what?
Thank you for your prompt and valued reply.

Read Answer Asked by Baldur on June 17, 2019