Published on 6/3/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 9.4% reverse convertibles linked to Comstock Resources
New York, June 3 - JPMorgan Chase & Co. priced $1 million of 9.4% reverse convertible notes due Sept. 5, 2013 linked to Comstock Resources, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Comstock Resources shares fall below the protection price of $11.43, 68.0357% of the initial price of $16.80, during the life of the notes and finish below the initial price in which case the payout will be 59.5238 shares of Comstock Resources stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Reverse convertible notes
|
Underlying stock: | Comstock Resources, Inc. (Symbol: CRK)
|
Amount: | $1 million
|
Maturity: | Sept. 5, 2013
|
Coupon: | 9.4%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Comstock Resources shares fall below the protection price of $11.43, 68.0357% of the initial price, and finish below the initial price, in which case 59.5238 shares of Comstock Resources stock
|
Initial price: | $16.80
|
Protection price: | $11.43, 68.0357% of $16.80
|
Exchange ratio: | 59.5238
|
Pricing date: | May 30
|
Settlement date: | June 4
|
Agent: | JPMorgan
|
Fees: | 0.875%
|
Cusip: | 48126NDA2
|
© 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.