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JPMorgan to price 10.75% reverse convertibles linked to Goldman Sachs
New York, Sept. 19 - JPMorgan Chase & Co. plans to price 10.75% reverse convertible notes due Dec. 30, 2011 linked to Goldman Sachs Group, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Goldman Sachs 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 Goldman Sachs shares equal to $1,000 divided by the initial price.
The notes are expected to price on Sept. 28 and settle on Sept. 30.
JPMorgan is the agent.
The Cusip number is 48125X2T2.
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