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JPMorgan to price 7.1% reverse convertibles linked to Whole Foods
New York, June 12 - JPMorgan Chase & Co. plans to price 7.1% reverse convertible notes due Dec. 30, 2014 linked to Whole Foods Market, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Whole Foods 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 Whole Foods shares equal to $1,000 divided by the initial price.
The notes are expected to price on June 25 and settle on June 30.
JPMorgan is the agent.
The Cusip number is 48127DML9.
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