Published on 4/18/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 9.4% reverse convertibles linked to Carrizo Oil
New York, April 18 - JPMorgan Chase & Co. priced $1 million of 9.4% reverse convertible notes due July 19, 2013 linked to Carrizo Oil & Gas, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Carrizo Oil shares fall below the protection price of $16.11, 67.0133% of the initial price of $24.04, during the life of the notes and finish below the initial price in which case the payout will be 41.5973 shares of Carrizo Oil stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Carrizo Oil & Gas, Inc. (Symbol: CRZO)
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Amount: | $1 million
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Maturity: | July 19, 2013
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Coupon: | 9.4%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Carrizo Oil shares fall below the protection price of $16.11, 67.0133% of the initial price, and finish below the initial price, in which case 41.5973 shares of Carrizo Oil stock
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Initial price: | $24.04
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Protection price: | $16.11, 67.0133% of $24.04
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Exchange ratio: | 41.5973
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Pricing date: | April 16
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Settlement date: | April 19
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Agent: | JPMorgan
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Fees: | 1.375%, including 0.875% for selling concessions
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Cusip: | 48126DZ36
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