New Issue: JPMorgan prices $1.49 million 15% reverse exchangeables linked to Bucyrus

By Laura Lutz

Des Moines, April 2 - JPMorgan Chase & Co. priced $1.49 million of 15% reverse exchangeable notes due July 7, 2008 linked to the common stock of Bucyrus International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If Bucyrus stock falls below 65% of the initial share price during the life of the notes and finishes below the initial price, the payout at maturity will be a number of Bucyrus shares equal to par divided by the initial price.

Otherwise, the payout will be par.

J.P. Morgan Securities Inc. will be the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	Bucyrus International, Inc. (Symbol: BUCY)
Amount:	$1,489,000
Maturity:	July 7, 2008
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	If Bucyrus stock falls below 65% of initial share price during life of notes and finishes below initial shares price, par divided by initial share price; otherwise, par
Initial level:	$102.45
Trigger level:	65% of initial level
Pricing date:	April 1
Settlement date:	April 7
Agent:	J.P. Morgan Securities Inc.
Fees:	2.44%, including 1.944% for selling concessions

© 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.