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JPMorgan to price 19% reverse convertibles linked to Patriot Coal
New York, April 6 - JPMorgan Chase & Co. plans to price 19% reverse convertible notes due Oct. 31, 2011 linked to Patriot Coal Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Patriot Coal 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 Patriot Coal shares equal to $1,000 divided by the initial price.
The notes are expected to price on April 26 and settle on April 29.
JPMorgan is the agent.
The Cusip number is 48125XMD5.
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