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JPMorgan to price 12% reverse exchangeables linked to U.S. Oil Fund
By Susanna Moon
Chicago, March 2 - JPMorgan Chase & Co. plans to price 12% reverse exchangeable notes due March 11, 2010 linked to the United States Oil Fund, LP, 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 fund shares fall by more than 40% during the life of the notes and finish below the initial share price, in which investors will receive a number of shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent value in cash.
The notes are expected to price on March 6 and settle on March 11.
J.P. Morgan Securities Inc. will be the agent.
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