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JPMorgan to price 12.45% reverse exchangeables linked to Standard Pacific
By Jennifer Chiou
New York, Jan. 8 - JPMorgan Chase & Co. plans to price an issue of 12.45% auto callable reverse exchangeable notes due Jan. 30, 2008 linked to the common stock of Standard Pacific Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
At maturity, investors will receive par unless Standard Pacific stock falls below 70% of the initial share price during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Standard Pacific shares equal to $1,000 divided by the initial share price.
The notes will price on Jan. 26 and settle on Jan. 31.
J.P. Morgan Securities Inc. will be the agent.
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