I popped the numbers into a mortgage calculator to help flesh out everyone's understanding. The real rate on the convert is ~8.4%. Not surprisingly (due to math and whatnot), this is not far from the 8% yield at which $TSLA 2025 non-convertible bonds are currently trading. pic.twitter.com/yIx1mXIKqv

— B Graham Disciple (@bgrahamdisciple) May 5, 2019