JPMorgan plans 11.5% six-month reverse exchangeables linked to Tesla

By Susanna Moon

Chicago, Nov. 14 - JPMorgan Chase & Co. plans to price of 11.5% annualized reverse exchangeable notes due March 3, 2014 linked to Tesla Motors, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless Tesla shares fall by more than 35% during the life of the notes and finish below the initial share price, in which case the payout will be a number of Tesla shares equal to $1,000 divided by the initial share price.

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

The notes will price on Nov. 26 and settle on Nov. 29.

The Cusip number is 48126ND46.

© 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.