JPMorgan plans auto callable 10.5% notes linked to Best Buy

By Angela McDaniels

Seattle, Dec. 11 - JPMorgan Chase & Co. plans to price an issue of 10.5% auto callable reverse exchangeable notes due Dec. 31, 2007 linked to the common stock of Best Buy Co., Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will price on or about Dec. 26 and settle on Dec. 29.

If Best Buy stock falls by more than 30% during the life of the notes, the notes will be called and the payout will be a number of Best Buy shares equal to $1,000 divided by the initial share price.

If the notes are not called, the payout at maturity will be par.

J.P. Morgan Securities 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.