New Issue: JPMorgan prices $0.575 million 13% reverse convertibles linked to Apache

New York, Aug. 29 - JPMorgan Chase & Co. priced $0.575 million of 13% reverse convertible notes due Nov. 28, 2008 linked to Apache Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Apache shares fall below the protection price of $82.068, 70% of the initial price of $117.24, during the life of the notes and finish below the initial price in which case the payout will be 8.5295 shares of Apache stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Apache Corp. (Symbol: APA)
Amount:	$0.575 million
Maturity:	Nov. 28, 2008
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Apache shares fall below the protection price of $82.068, 70% of the initial price, and finish below the initial price, in which case 8.5295 shares of Apache stock
Initial price:	$117.24
Protection price:	$82.068, 70% of $117.24
Exchange ratio:	8.5295
Pricing date:	Aug. 27
Settlement date:	Aug. 29
Agent:	JPMorgan
Fees:	1%

© 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.