New Issue: JPMorgan prices $0.15 million 13% reverse convertibles linked to Bank of America

New York, July 13 - JPMorgan Chase & Co. priced $0.152 million of 13% reverse convertible notes due July 15, 2010 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Bank of America shares fall below the protection price of $5.94, 50% of the initial price of $11.88, during the life of the notes and finish below the initial price in which case the payout will be 84.1751 shares of Bank of America stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Bank of America Corp. (Symbol: BAC)
Amount:	$0.152 million
Maturity:	July 15, 2010
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Bank of America shares fall below the protection price of $5.94, 50% of the initial price, and finish below the initial price, in which case 84.1751 shares of Bank of America stock
Initial price:	$11.88
Protection price:	$5.94, 50% of $11.88
Exchange ratio:	84.1751
Pricing date:	July 10
Settlement date:	July 15
Agent:	JPMorgan
Fees:	6%

© 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.