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JPMorgan to price 10% reverse exchangeables linked to Whole Foods
By Jennifer Chiou
New York, June 5 - JPMorgan Chase & Co. plans to price 10% reverse exchangeable notes due June 30, 2008 linked to the common stock of Whole Foods Market, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Whole Foods stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Whole Foods shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent cash value.
The notes are expected to price June 26 and settle June 29.
J.P. Morgan Securities Inc. will be the agent.
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