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JPMorgan plans issue of 9.25% reverse exchangeables linked to Dell
By Angela McDaniels
Seattle, Sept. 13 - JPMorgan Chase & Co. plans to price an issue of 9.25% reverse exchangeable notes due Sept. 28, 2007 linked to the common stock of Dell Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The pricing date is expected to be on or about Sept. 22 with settlement on Sept. 27.
The payout at maturity will be par unless Dell stock falls by more than 20% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Dell shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities Inc. will be the agent for the offering.
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