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Prospect News home > News index > List of issuers E > Headlines for Emerson Electric Co. > News item |
JPMorgan to price 8.85% reverse convertibles linked to Emerson Electric
New York, April 20 - JPMorgan Chase & Co. plans to price 8.85% reverse convertible notes due Nov. 16, 2012 linked to Emerson Electric Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Emerson Electric shares fall below 85% 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 Emerson Electric shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 10 and settle on May 15.
JPMorgan is the agent.
The Cusip number is 48125VWB2.
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