Continuing the quest to solve the P0420...
Does it have to be an OEM converter? It costs over $500 and we don't have anywhere near that kind of money.
good luck
Yes, the rear sensor signal should be close to flat, if it reacts the same as the front O2 sensor, that tells the PCM the oxygen storage capacity of the catalyst is depleted and it needs replacement....if you have had this code since you acquired the car, I'll assume you live in a state that does not require any type of emissions testing. If that's the case have a muffler shop slap on a universal convertor...but don't be surprised if the light comes back on shortly after.
Just me but a good name brand converter will be fine. They come with a warranty as long as you follow the "documents"......meaning they might want to verify that the O2's sensors are working/been replaced and that.
good luck


