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JPMorgan to price 11.5% reverse convertibles linked to Deere
New York, Nov. 3 - JPMorgan Chase & Co. plans to price 11.5% reverse convertible notes due Nov. 30, 2010 linked to Deere & Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Deere 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 Deere shares equal to $1,000 divided by the initial price.
The notes are expected to price on Nov. 24 and settle on Nov. 30.
JPMorgan is the agent.
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