Published on 8/16/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 9.15% reverse exchangeables linked to iShares MSCI EM
By Susanna Moon
Chicago, Aug. 16 - JPMorgan Chase & Co. priced $500,000 of 9.15% reverse exchangeable notes due Feb. 16, 2012 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par in cash unless the fund falls below the trigger price - 75% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a cash amount equal to the product of (a) $1,000 divided by the initial share price and (b) the final share price.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Reverse exchangeable notes
|
Underlying fund: | iShares MSCI Emerging Markets index fund
|
Amount: | $500,000
|
Maturity: | Feb. 16, 2012
|
Coupon: | 9.15%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless fund falls by more than protection price during life of notes and finishes below initial price, in which case cash amount equal to value of 24.2365 fund shares
|
Initial price: | $41.26
|
Protection price: | $10.315, or 25% of initial price
|
Pricing date: | Aug. 12
|
Settlement date: | Aug. 17
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3.15%, including 2.5% for selling concessions
|
Cusip: | 48125XM94
|
© 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.