JPMorgan plans 12.25% three-month reverse convertibles linked to Tesla

By Susanna Moon

Chicago, Dec. 16 - JPMorgan Chase & Co. plans to price 12.25% annualized reverse convertible notes due March 31, 2014 linked to Tesla Motors Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Tesla Motors shares fall below 65% 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 Tesla Motors shares equal to $1,000 divided by the initial price.

JPMorgan is the agent.

The notes will price on Dec. 26 and settle on Dec. 31.

The Cusip number is 48126NN45.

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