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JPMorgan to price 10% reverse convertibles linked to Las Vegas Sands
New York, April 4 - JPMorgan Chase & Co. plans to price 10% reverse convertible notes due Oct. 18, 2012 linked to Las Vegas Sands Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Las Vegas Sands shares fall below 80% 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 Las Vegas Sands shares equal to $1,000 divided by the initial price.
The notes are expected to price on April 13 and settle on April 18.
JPMorgan is the agent.
The Cusip number is 48125VUU2.
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