By Laura Lutz
Des Moines, Feb. 20 - JPMorgan Chase & Co. priced $1.15 million of 7.8% annualized reverse exchangeable notes due Aug. 22, 2008 linked to Exxon Mobil Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
If Exxon Mobil stock falls below 70% of the initial share price during the life of the notes and finishes below the initial share price, the payout will be a number of Exxon Mobil shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | Exxon Mobil Corp. (Symbol: XOM)
|
| Amount: | $1.15 million
|
| Maturity: | Aug. 22, 2008
|
| Coupon: | 7.8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Exxon Mobil stock falls below protection price during life of notes and finishes below initial price, number of shares equal to par divided by initial price; otherwise, par
|
| Initial price: | $87.01
|
| Protection price: | 70% of initial price
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 22
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1%, including 0.5% for selling concessions
|
© 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.
