New Issue: JPMorgan prices $1.6 million 18% reverse convertibles linked to Agilent Technologies

New York, Sept. 23 - JPMorgan Chase & Co. priced $1.6 million of 18% reverse convertible notes due March 26, 2012 linked to Agilent Technologies, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Agilent Technologies shares fall below the protection price of $22.575, 70% of the initial price of $32.25, during the life of the notes and finish below the initial price in which case the payout will be 31.0078 shares of Agilent Technologies stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Agilent Technologies, Inc.
Amount:	$1.6 million
Maturity:	March 26, 2012
Coupon:	18%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Agilent Technologies shares fall below the protection price of $22.575, 70% of the initial price, and finish below the initial price, in which case 31.0078 shares of Agilent Technologies stock
Initial price:	$32.25
Protection price:	$22.575, 70% of $32.25
Exchange ratio:	31.0078
Pricing date:	Sept. 21
Settlement date:	Sept. 26
Agent:	JPMorgan
Fees:	3.375%, including 2.375% for selling concessions
Cusip:	48125X3S3

© 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.