JPMorgan amends maturity date for upside autocallable reverse exchangeables linked to LDK Solar

By Toni Weeks

San Diego, March 14 - JPMorgan Chase & Co. amended the maturity date for its upcoming upside autocallable single observation reverse exchangeable notes linked to the American Depositary Receipts of LDK Solar Co., Inc. to March 23, 2012 from March 26, 2012, according to an FWP filing with the Securities and Exchange Commission.

The one-year notes will carry an annualized coupon of at least 19.15%. The exact coupon will be set at pricing. Interest is payable monthly.

If the final price of LDK Solar ADRs is greater than or equal to the initial price on any of four quarterly call dates, the notes will be called at par.

If the notes are not called and the final ADR price is at least 60% of the initial price, the payout at maturity will be par. Otherwise, the payout will be a number of LDK Solar ADRs equal to $1,000 divided by the initial ADR price or, at JPMorgan's option, a cash amount equal to the value of those ADRs.

The notes (Cusip: 48125XJM9) will price on March 22 and settle on March 25.

J.P. Morgan Securities LLC is the agent.

© 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.