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JPMorgan to price 11.95% reverse convertibles linked to Monster Beverage
New York, June 4 - JPMorgan Chase & Co. plans to price 11.95% reverse convertible notes due Dec. 18, 2013 linked to Monster Beverage Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Monster Beverage shares fall below 70% 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 Monster Beverage shares equal to $1,000 divided by the initial price.
The notes are expected to price on June 13 and settle on June 21.
JPMorgan is the agent.
The Cusip number is 48126NDE4.
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