New Issue: JPMorgan prices $1.279 million 22% reverse convertibles linked to Alcoa

New York, April 29 - JPMorgan Chase & Co. priced $1.279 million of 22% reverse convertible notes due July 31, 2009 linked to Alcoa Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Alcoa shares fall below the protection price, 40% of the initial price of $8.79, during the life of the notes and finish below the initial price in which case the payout will be Alcoa shares equal to $1,000 principal amount divided by the initial price.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Alcoa Inc. (Symbol: AA)
Amount:	$1.279 million
Maturity:	July 31, 2009
Coupon:	22%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Alcoa shares fall below the protection price, 40% of the initial price, and finish below the initial price, in which case Alcoa shares equal to $1,000 principal amount divided by the initial price
Initial price:	$8.79
Pricing date:	April 27
Settlement date:	April 30
Agent:	JPMorgan

© 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.