JPMorgan to price 15% reverse exchangeables linked to Peabody Energy

By Angela McDaniels

Tacoma, Wash., April 13 - JPMorgan Chase & Co. plans to price reverse exchangeable notes due July 31, 2009 linked to the common stock of Peabody Energy Corp., according to an FWP filing with the Securities and Exchange Commission.

The three-month notes will pay 3.75% for an annualized coupon of 15%. Interest will be payable monthly.

The payout at maturity will be par unless Peabody Energy stock falls by more than 35% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Peabody Energy shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the value of those shares in cash.

The notes are expected to price April 27 and settle April 30.

J.P. Morgan Securities Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.