Published on 4/30/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $750,000 16.1% reverse convertibles linked to Supervalu
New York, April 30 - JPMorgan Chase & Co. priced $750,000 of 16.1% reverse convertible notes due July 31, 2012 linked to Supervalu Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Supervalu shares fall below the protection price of $4.333, 70% of the initial price of $6.19, during the life of the notes and finish below the initial price in which case the payout will be 161.5509 shares of Supervalu stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Supervalu Inc. (Symbol: SVU)
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Amount: | $750,000
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Maturity: | July 31, 2012
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Coupon: | 16.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Supervalu shares fall below the protection price of $4.333, 70% of the initial price, and finish below the initial price, in which case 161.5509 shares of Supervalu stock
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Initial price: | $6.19
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Protection price: | $4.333, 70% of $6.19
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Exchange ratio: | 161.5509
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Pricing date: | April 26
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Settlement date: | April 30
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Agent: | JPMorgan
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Fees: | 2%, including 1.5% for selling concessions
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Cusip: | 48125VWP1
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