It will eventually terminate, if only because the machine it is running on will eventually be shut down.
The original poster seems to imply that knowing the code means that you can know the behaviour of the system; I do not think that is the case, and my simple (chaotic) example tries to demonstrate this.
The issue is not so much how this code is translated from higher abstraction level to lower abstraction level... the issue is, that this code represents a simple chaotic function (the logistic map). As such, for a simple few lines of code the behaviour is very complex and virtually impossible to predict; for certain values of the controlling number it will (1) halt relatively quickly, (2) never halt, or (3) halt after a very long time... but good luck in distinguishing between cases 2 and 3!