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JPMorgan to price 13.45% reverse convertibles linked to Best Buy
New York, May 8 - JPMorgan Chase & Co. plans to price 13.45% reverse convertible notes due Nov. 28, 2014 linked to Best Buy Co., Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Best Buy shares fall below 75% 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 Best Buy shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 22 and settle on May 28.
JPMorgan is the agent.
The Cusip number is 48127DHW1.
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