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JPMorgan to price 10.5% reverse convertibles linked to Hewlett-Packard
New York, May 2 - JPMorgan Chase & Co. plans to price 10.5% reverse convertible notes due May 15, 2014 linked to Hewlett-Packard Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Hewlett-Packard 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 Hewlett-Packard shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 13 and settle on May 16.
JPMorgan is the agent.
The Cusip number is 48126D4P1.
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