Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Cummins Inc. > News item |
JPMorgan plans 16.5%-19.5% six-month reverse convertibles on Cummins
By Susanna Moon
Chicago, July 19 - JPMorgan Chase & Co. plans to price 16.5% to 19.5% annualized reverse convertible notes due Feb. 7, 2013 linked to Cummins Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par in cash unless Cummins shares fall below 80% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Cummins shares equal to $1,000 divided by the initial price.
JPMorgan is the agent.
The notes are expected to price on Aug. 2 and settle on Aug. 7.
The Cusip number is 48125VU73.
© 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.