Published on 7/18/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $115,000 20% reverse exchangeables linked to Tesla Motors
New York, July 18 - JPMorgan Chase & Co. priced $115,000 of 20% reverse exchangeable notes due Jan. 22, 2014 linked to Tesla Motors, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Tesla Motors shares fall below the protection price of $65.46, 60% of the initial price of $109.10, during the life of the notes and finish below the initial price in which case the payout will be 9.1659 shares of Tesla Motors stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Tesla Motors, Inc. (Symbol: TSLA)
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Amount: | $115,000
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Maturity: | Jan. 22, 2014
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Coupon: | 20%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Tesla Motors shares fall below the protection price of $65.46, 60% of the initial price, and finish below the initial price, in which case 9.1659 shares of Tesla Motors stock
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Initial price: | $109.10
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Protection price: | $65.46, 60% of $109.10
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Exchange ratio: | 9.1659
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Pricing date: | July 16
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Settlement date: | July 19
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Agent: | JPMorgan
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Cusip: | 48126NHW0
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