New Issue: JPMorgan prices $2.16 million 20% reverse exchangeables linked to iShares FTSE/Xinhua 25

By Angela McDaniels

Seattle, Oct. 30 - JPMorgan Chase & Co. priced $2.16 million of reverse exchangeable notes due April 30, 2008 linked to the iShares FTSE/Xinhua China 25 index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 10% for an annualized rate of 20%. Interest is payable monthly.

The payout at maturity will be par unless the fund's share price declines by more than 40% 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 par minus the share price decline.

J.P. Morgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying index fund:	iShares FTSE/Xinhua China 25
Amount:	$2,155,000
Maturity:	April 30, 2008
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	If share price declines by more than the protection amount during the life of the notes and finishes below the initial share price, par minus the share price decline; otherwise, par
Initial share price:	$209.32
Protection amount:	$83.728, 40% of initial share price
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	J.P. Morgan Securities Inc.
Fees:	3.747%, including 2.932% 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.