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JPMorgan to price 16.1% reverse convertibles linked to Silvercorp Metals
New York, Aug. 3 - JPMorgan Chase & Co. plans to price 16.1% reverse convertible notes due Nov. 17, 2011 linked to Silvercorp Metals Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Silvercorp Metals 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 Silvercorp Metals shares equal to $1,000 divided by the initial price.
The notes are expected to price on Aug. 12 and settle on Aug. 17.
JPMorgan is the agent.
The Cusip number is 48125XF68.
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