New Issue: JPMorgan prices $40,000 18.75% reverse exchangeables linked to Barrick Gold

By Angela McDaniels

Tacoma, Wash., June 28 - JPMorgan Chase & Co. priced $40,000 of reverse exchangeable notes due Dec. 31, 2013 linked to the common stock of Barrick Gold Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes carry an annualized coupon of 18.75%. Interest is payable monthly.

The payout at maturity will be par unless Barrick Gold stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Barrick Gold shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

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

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Barrick Gold Corp. (Symbol: ABX)
Amount:	$40,000
Maturity:	Dec. 31, 2013
Coupon:	18.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Barrick Gold shares fall by more than buffer amount during life of notes and finish below initial price, in which case 67.659 shares of Barrick Gold stock
Initial price:	$14.78
Buffer amount:	$2.956, 20% of initial share price
Pricing date:	June 26
Settlement date:	June 28
Agent:	J.P. Morgan Securities Inc.
Cusip:	48126NFJ1
Fees:	4.06%

© 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.