New Issue: JPMorgan prices $2.88 million 9% reverse exchangeables linked to General Electric

By Susanna Moon

Chicago, April 22 - JPMorgan Chase & Co. priced $2.88 million of 9% reverse exchangeable notes due April 23, 2009 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless General Electric stock falls by more than 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of General Electric shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent cash value.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	General Electric Co. (NYSE: GE)
Amount:	$2,875,000
Maturity:	April 23, 2009
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	If General Electric stock falls by more than the protection amount during the life of the notes and finishes below the initial share price, 30.5904 General Electric shares; otherwise, par
Initial share price:	$32.69
Protection amount:	$8.1725, 25% of initial share price
Pricing date:	April 18
Settlement date:	April 23
Agent:	J.P. Morgan Securities Inc.
Fees:	3.256%, including 2.595% 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.