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Prospect News home > News index > List of issuers V > Headlines for Valero Energy Corp. > News item |
JPMorgan plans 6%-7.3% airbag yield optimization notes tied to Valero
By Susanna Moon
Chicago, Dec. 19 - JPMorgan Chase & Co. plans to price 6% to 7.3% annualized airbag yield optimization notes due June 26, 2014 linked to Valero Energy Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Valero shares equal to $1,000 divided by the conversion price. The conversion price is 85% of the initial share price.
J.P. Morgan Securities LLC is the agent with UBS Financial Services Inc. as dealer.
The notes will price on Dec. 20 and settle on Dec. 31.
The Cusip number is 48127A476.
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