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JPMorgan to price 16% reverse convertibles linked to Silver Wheaton
New York, May 20 - JPMorgan Chase & Co. plans to price 16% reverse convertible notes due Dec. 4, 2013 linked to Silver Wheaton Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Silver Wheaton 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 Silver Wheaton shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 28 and settle on May 31.
JPMorgan is the agent.
The Cusip number is 48126NAW7.
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