Published on 6/27/2008 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $496,000 12% reverse exchangeables linked to Nucor
By Susanna Moon
Chicago, June 27 - JPMorgan Chase & Co. priced $496,000 of 12% reverse exchangeable notes due June 30, 2009 linked to the common stock of Nucor Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Nucor stock falls by more than 35% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Nucor shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent cash value.
J.P. Morgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Reverse exchangeable notes
|
Underlying stock: | Nucor Corp. (Symbol: NUE)
|
Amount: | $496,000
|
Maturity: | June 30, 2009
|
Coupon: | 12%, payable monthly
|
Price: | Par
|
Payout at maturity: | If Nucor stock falls by more than the protection level during the life of the notes and finishes below the initial share price, 12.9567 Nucor shares; otherwise, par
|
Initial share price: | $77.18
|
Protection level: | $27.013, 35% of initial price
|
Pricing date: | June 25
|
Settlement date: | June 30
|
Agent: | J.P. Morgan Securities Inc.
|
Fees: | 5.552%, including 3.743% for selling concessions
|
© 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.