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JPMorgan to price 9% reverse exchangeables linked to General Electric
By E. Janene Geiss
Philadelphia, May 29 - JPMorgan Chase & Co. plans to price an issue of 9% reverse exchangeable notes due June 11, 2009 linked to the common stock of General Electric Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the stock drops below the knock-in price - 80% of the initial share price - during the life of the notes and finishes below its initial price, the payout at maturity will be a number of General Electric shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes will price on June 6 and settle on June 11.
J.P. Morgan Securities Inc. will be the agent.
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