Published on 7/31/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $430,000 15.75% reverse exchangeables linked to Barrick Gold
New York, July 31 - JPMorgan Chase & Co. priced $430,000 of 15.75% reverse exchangeable notes due Feb. 3, 2014 linked to Barrick Gold Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Barrick Gold shares fall below the protection price of $12.285, 70% of the initial price of $17.55, during the life of the notes and finish below the initial price in which case the payout will be 56.9801 shares of Barrick Gold stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Barrick Gold Corp. (Symbol: ABX)
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Amount: | $430,000
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Maturity: | Feb. 3, 2014
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Coupon: | 15.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Barrick Gold shares fall below the protection price of $12.285, 70% of the initial price, and finish below the initial price, in which case 56.9801 shares of Barrick Gold stock
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Initial price: | $17.55
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Protection price: | $12.285, 70% of $17.55
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Exchange ratio: | 56.9801
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Pricing date: | July 29
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Settlement date: | July 31
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Agent: | JPMorgan
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Cusip: | 48126NKQ9
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