New Issue: JPMorgan prices $0.775 million 12.5% reverse convertibles linked to Caterpillar

New York, April 29 - JPMorgan Chase & Co. priced $0.775 million of 12.5% reverse convertible notes due April 30, 2010 linked to Caterpillar Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Caterpillar shares fall below the protection price, 50% of the initial price of $33.39, during the life of the notes and finish below the initial price in which case the payout will be Caterpillar shares equal to $1,000 principal amount divided by the initial price.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Caterpillar Inc. (Symbol: CAT)
Amount:	$0.775 million
Maturity:	April 30, 2010
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Caterpillar shares fall below the protection price, 50% of the initial price, and finish below the initial price, in which case Caterpillar shares equal to $1,000 principal amount divided by the initial price
Initial price:	$33.39
Pricing date:	April 27
Settlement date:	April 30
Agent:	JPMorgan
Fees:	4.5%

© 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.