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JPMorgan to price 18.75% reverse convertibles linked to Research in Motion
New York, July 5 - JPMorgan Chase & Co. plans to price 18.75% reverse convertible notes due Oct. 21, 2013 linked to Research In Motion Ltd. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Research in Motion shares fall below 65% 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 Research in Motion shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 16 and settle on July 19.
JPMorgan is the agent.
The Cusip number is 48126NHT7.
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