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JPMorgan to price 10.68% to 14.68% reverse convertibles linked to Starbucks
New York, April 27 - JPMorgan Chase & Co. plans to price 10.68% to 14.68% reverse convertible notes due Nov. 22, 2011 linked to Starbucks Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Starbucks 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 Starbucks shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 17 and settle on May 20.
JPMorgan is the agent.
The Cusip number is 48125XNQ5.
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