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JPMorgan to issue 10.1% reverse exchangeables linked to Halliburton
By Laura Lutz
Des Moines, Oct. 4 - JPMorgan Chase & Co. plans to price an issue of 10.1% reverse exchangeable notes due Oct. 25, 2007 linked to the common stock of Halliburton Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be paid monthly.
At maturity, investors will receive par unless Halliburton stock falls below the protection price - 70% 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 Halliburton shares equal to $1,000 divided by the initial share price.
The notes will price on Oct. 20 and settle on Oct. 25.
J.P. Morgan Securities Inc. will be the agent.
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