New Issue: JPMorgan prices $0.5 million 16.25% reverse exchangeables linked to JetBlue

By Jennifer Chiou

New York, July 30 - JPMorgan Chase & Co. priced a $0.5 million issue of 16.25% annualized reverse exchangeable notes due Jan. 31, 2008 linked to JetBlue Airways Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.

If JetBlue stock falls by more than 20% of the initial share price during the life of the notes and finishes below the initial share price, the payout will be a number of JetBlue shares equal to $1,000 divided by the initial share price.

J.P. Morgan Securities Inc. is the agent and Incapital is distributor.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse exchangeable notes
Underlying stock:	JetBlue Inc.
Amount:	$0.5 million
Maturity:	Jan. 31, 2008
Coupon:	16.25% annualized
Price:	Par
Payout at maturity:	Par unless JetBlue stock falls by more than $2.054 during the life of the notes and finishes below the initial share price, in which case payout will be a number of JetBlue shares equal to $1,000 divided by the initial share price
Initial share price:	$10.27
Protection amount:	$2.054, 20% of the initial share price
Pricing date:	July 26
Settlement date:	July 31
Agent:	J.P. Morgan Securities Inc.
Distributor:	Incapital
Fees:	3.75%, including 2.625% 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.