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JPMorgan to price 11.5% reverse exchangeables linked to Whole Foods Market
By E. Janene Geiss
Philadelphia, Aug. 6 ? JPMorgan Chase & Co. plans to price an issue of 11.5% reverse exchangeable notes due Aug. 29, 2008 linked to Whole Foods Market, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the stock falls by more than the protection amount - 20% 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 Whole Foods Market shares equal to $1,000 divided by the initial share price.
The notes will price Aug. 28 and settle Aug. 31.
J.P. Morgan Securities Inc. will be the agent.
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