New Issue: JPMorgan prices $44,000 13.5% reverse convertibles linked to AMR

New York, April 28 - JPMorgan Chase & Co. priced $44,000 of 13.5% reverse convertible notes due July 29, 2011 linked to AMR Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless AMR shares fall below the protection price of $4.305, 75% of the initial price of $5.74, during the life of the notes and finish below the initial price in which case the payout will be 174.216 shares of AMR stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	AMR Corp. (Symbol: AMR)
Amount:	$44,000
Maturity:	July 29, 2011
Coupon:	13.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless AMR shares fall below the protection price of $4.305, 75% of the initial price, and finish below the initial price, in which case 174.216 shares of AMR stock
Initial price:	$5.74
Protection price:	$4.305, 75% of $5.74
Exchange ratio:	174.216
Pricing date:	April 26
Settlement date:	April 29
Agent:	JPMorgan
Cusip:	48125XMA1

© 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.