New Issue: JPMorgan prices $1.07 million 15.25% reverse convertibles linked to lululemon athletica

New York, Feb. 25 - JPMorgan Chase & Co. priced $1.071 million of 15.25% reverse convertible notes due May 31, 2011 linked to lululemon athletica inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless lululemon athletica shares fall below the protection price of $61.816, 80% of the initial price of $77.27, during the life of the notes and finish below the initial price in which case the payout will be 12.9416 shares of lululemon athletica stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	lululemon athletica inc. (Symbol: LULU)
Amount:	$1.071 million
Maturity:	May 31, 2011
Coupon:	15.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless lululemon athletica shares fall below the protection price of $61.816, 80% of the initial price, and finish below the initial price, in which case 12.9416 shares of lululemon athletica stock
Initial price:	$77.27
Protection price:	$61.816, 80% of $77.27
Exchange ratio:	12.9416
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	JPMorgan
Cusip:	48125XDW3

© 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.