Published on 7/18/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $30,000 12.25% reverse exchangeables linked to Tesoro
New York, July 18 - JPMorgan Chase & Co. priced $30,000 of 12.25% reverse exchangeable notes due Jan. 22, 2014 linked to Tesoro Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Tesoro shares fall below the protection price of $39.465, 75% of the initial price of $52.62, during the life of the notes and finish below the initial price in which case the payout will be 19.0042 shares of Tesoro stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Reverse exchangeable notes
|
Underlying stock: | Tesoro Corp. (Symbol: TSO)
|
Amount: | $30,000
|
Maturity: | Jan. 22, 2014
|
Coupon: | 12.25%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Tesoro shares fall below the protection price of $39.465, 75% of the initial price, and finish below the initial price, in which case 19.0042 shares of Tesoro stock
|
Initial price: | $52.62
|
Protection price: | $39.465, 75% of $52.62
|
Exchange ratio: | 19.0042
|
Pricing date: | July 16
|
Settlement date: | July 19
|
Agent: | JPMorgan
|
Cusip: | 48126NHY6
|
© 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.