It sounds more likely Marriott will convert the certs at parity, that is old cat X will become new cat X (up to 8). They gave us advance notice of the category changes. Nobody will be justified to complain if certificates are converted at parity.

If they were going to convert at a scale other than parity, then they would have had to give us advance notice of the conversion as that would entail some devaluations in terms of redemptions