New Issue: JPMorgan sells $687,000 6% single observation reverse exchangeables on 3M shares

By Marisa Wong

Madison, Wis., April 19 - JPMorgan Chase & Co. priced $687,000 of 6% single observation reverse exchangeable notes due April 19, 2012 linked to the common stock of 3M Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash, unless the final price of 3M shares is less than the initial share price by more than 20% of the initial share price, in which case investors will receive a number of 3M shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Single observation reverse exchangeable notes
Underlying stock:	3M Co. (NYSE: MMM)
Amount:	$687,000
Maturity:	April 19, 2012
Coupon:	6% per year, payable monthly
Price:	Par
Payout at maturity:	Par in cash, unless the final price is less than the initial share price by more than 20% of the initial price, in which case a number of 3M shares equal to $1,000 divided by the initial price or, at issuer's option, a cash amount equal to the value of those shares
Initial share price:	$92.82
Pricing date:	April 15
Settlement date:	April 20
Agent:	J.P. Morgan Securities LLC
Fees:	1.35%
Cusip:	48125XKV7

© 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.