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JPMorgan to price 12% reverse convertibles linked to Ford Motor
New York, Oct. 21 - JPMorgan Chase & Co. plans to price 12% reverse convertible notes due April 30, 2012 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 75% 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 Oct. 27 and settle on Oct. 31.
JPMorgan is the agent.
The Cusip number is 48125X7K6.
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