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JPMorgan to price 7.6% mandatory exchangeable notes linked to Alcoa
By Laura Lutz
Des Moines, April 25 - JPMorgan Chase & Co. plans to price an issue of 7.6% mandatory exchangeable notes due May 8, 2008 linked to the common stock of Alcoa Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, the payout will be equal to par times the final performance of the stock, payable in cash or shares of Alcoa. The return will be capped at 10%.
The notes are expected to price on April 30 and settle on May 3.
J.P. Morgan Securities Inc. will be the agent.
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