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JPMorgan to price 16.75% reverse convertibles linked to Ford Motor
New York, July 2 - JPMorgan Chase & Co. plans to price 16.75% reverse convertible notes due Oct. 19, 2010 linked to Ford Motor Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Ford Motor shares fall below 80% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Ford Motor shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 14 and settle on July 19.
JPMorgan is the agent.
The Cusip number is 48124AVQ7.
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