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JPMorgan to price 22.5% reverse convertibles linked to Molycorp
New York, May 17 - JPMorgan Chase & Co. plans to price 22.5% reverse convertible notes due Aug. 31, 2012 linked to Molycorp, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Molycorp 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 Molycorp shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 29 and settle on May 31.
JPMorgan is the agent.
The Cusip number is 48125VZK9.
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