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JPMorgan to price 9% reverse exchangeables linked to ConocoPhillips
By E. Janene Geiss
Philadelphia, Feb. 7 - JPMorgan Chase & Co. plans to price an issue of 9% reverse exchangeable notes due Feb. 27, 2008 linked to the common stock of ConocoPhillips, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless ConocoPhillips stock has fallen below 85% of the initial share price during the life of the notes and finishes below the initial share price, in which case the payout will be a number of ConocoPhillips shares equal to $1,000 divided by the initial share price.
The notes are expected to price Feb. 23 and settle Feb. 28.
J.P. Morgan Securities Inc. will be the agent.
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