Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for E*Trade Financial Corp. > News item |
JPMorgan to price 14.5% reverse exchangeables linked to E*Trade
By E. Janene Geiss
Philadelphia, Oct. 10 - JPMorgan Chase & Co. plans to price an issue of 14.5% reverse exchangeable notes due Oct. 31, 2008 linked to the common stock of E*Trade Financial Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless E*Trade stock falls below the knock-in price - 60% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of E*Trade shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent cash value.
The notes will price on Oct. 26 and settle on Oct. 31.
J.P. Morgan Securities Inc. will be the agent.
© 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.