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Prospect News home > News index > List of issuers J > Headlines for JPMorgan Chase & Co. > News item |
JPMorgan to price 10.25% reverse exchangeables linked to United States Oil Fund
By E. Janene Geiss
Philadelphia, Feb. 24 - JPMorgan Chase & Co. plans to price 10.25% reverse exchangeable notes due Feb. 26, 2010 linked to the common stock of the United States Oil Fund, LP, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payout at maturity will be par unless the fund falls by more than 50% during the life of the notes and finishes below the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent value in cash.
The notes are expected to price on Feb. 24 and settle on Feb. 27.
J.P. Morgan Securities Inc. will be the agent.
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