Published on 12/14/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 9% reverse convertibles linked to lululemon athletica
New York, Dec. 14 - JPMorgan Chase & Co. priced $1 million of 9% reverse convertible notes due March 15, 2013 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 $51.53, 69.4474% of the initial price of $74.20, during the life of the notes and finish below the initial price in which case the payout will be 13.4771 shares of lululemon athletica stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | lululemon athletica inc. (Symbol: LULU)
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Amount: | $1 million
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Maturity: | March 15, 2013
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless lululemon athletica shares fall below the protection price of $51.53, 69.4474% of the initial price, and finish below the initial price, in which case 13.4771 shares of lululemon athletica stock
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Initial price: | $74.20
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Protection price: | $51.53, 69.4474% of $74.20
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Exchange ratio: | 13.4771
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Pricing date: | Dec. 12
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Settlement date: | Dec. 17
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Agent: | JPMorgan
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Fees: | 1.5%, including 1% for selling concessions
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Cusip: | 48126DPR4
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