New Issue: JPMorgan prices $1 million 9% reverse convertibles linked to Terex

New York, Sept. 21 - JPMorgan Chase & Co. priced $1 million of 9% reverse convertible notes due Dec. 24, 2012 linked to Terex Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Terex shares fall below the protection price of $14.1, 56.8548% of the initial price of $24.80, during the life of the notes and finish below the initial price in which case the payout will be 40.3226 shares of Terex stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Terex Corp. (Symbol: TEX)
Amount:	$1 million
Maturity:	Dec. 24, 2012
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Terex shares fall below the protection price of $14.1, 56.8548% of the initial price, and finish below the initial price, in which case 40.3226 shares of Terex stock
Initial price:	$24.80
Protection price:	$14.1, 56.8548% of $24.80
Exchange ratio:	40.3226
Pricing date:	Sept. 19
Settlement date:	Sept. 24
Agent:	JPMorgan
Fees:	1.4%, including 0.9% for selling concessions
Cusip:	48126DAD1

© 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.