Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bear Stearns Cos. Inc. > News item |
Bear Stearns to price 16.8% reverse convertibles linked to JPMorgan
By Jennifer Chiou
New York, March 3 - Bear Stearns Cos. Inc. plans to price 16.8% reverse convertible notes due September 2008 linked to JPMorgan Chase & Co. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable at maturity.
If JPMorgan stock falls below the protection price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, the payout at maturity will be a number of JPMorgan shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes are expected to price and settle in March.
Bear, Stearns & Co. Inc. will be the agent.
© 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.