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JPMorgan plans 17% six-month reverse convertibles linked to Pandora
By Susanna Moon
Chicago, Dec. 16 - JPMorgan Chase & Co. plans to price 17% annualized reverse convertible notes due June 30, 2014 linked to Pandora Media Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par in cash unless Pandora 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 Pandora 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 48126NN78.
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