Published on 6/27/2006 in the Prospect News Convertibles Daily.
New Issue: JPMorgan prices $2.69 million annual review notes linked to Nikkei 225
By Jennifer Chiou
New York, June 27 - JPMorgan Chase & Co. priced a $2.69 million issue of 0% annual review notes due July 8, 2009 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at increasing premiums if the index is at least 90% of the initial amount on the first review date or shows a positive return on the two subsequent annual review dates. For each $1,000 principal amount, the redemption amount will be 12.4% if called on July 2, 2007, 24.8% if called on July 2, 2008 and 37.2% if called on July 2, 2009.
If the notes are not called, investors will receive par unless the index declines by more than 10%. Investors will lose 1.1111% of the principal amount for every 1% decline in the index beyond 10%.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Annual review notes
|
Underlying index: | Nikkei 225
|
Amount: | $2.69 million
|
Maturity: | July 8, 2009
|
Coupon: | 0%
|
Price: | Par
|
Call: | Automatically called at increasing premiums if the index is at least 90% of the initial level on the first review date or shows a positive return on the subsequent annual review dates; redemption amount will be 12.4% if called on July 2, 2007, 24.8% if called on July 2, 2008 and 37.2% if called on July 2, 2009
|
Payout at maturity: | If the notes are not called, investors will receive par unless the index declines by more than 10%. Investors will lose 1.1111% of the principal amount for every 1% decline in the index beyond 10%
|
Initial index level: | 15,124.04
|
Agent: | JPMorgan
|
Pricing date: | June 23
|
Settlement date: | June 28
|
|
© 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.