Published on 6/12/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.39 million 10% reverse convertibles linked to Goldman Sachs
New York, June 12 - JPMorgan Chase & Co. priced $1.39 million of 10% reverse convertible notes due Dec. 13, 2012 linked to Goldman Sachs Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Goldman Sachs shares fall below the protection price of $56.724, 60% of the initial price of $94.54, during the life of the notes and finish below the initial price in which case the payout will be 10.5775 shares of Goldman Sachs stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Goldman Sachs Group, Inc. (Symbol: GS)
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Amount: | $1.39 million
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Maturity: | Dec. 13, 2012
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Goldman Sachs shares fall below the protection price of $56.724, 60% of the initial price, and finish below the initial price, in which case 10.5775 shares of Goldman Sachs stock
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Initial price: | $94.54
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Protection price: | $56.724, 60% of $94.54
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Exchange ratio: | 10.5775
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Pricing date: | June 8
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Settlement date: | June 13
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Agent: | JPMorgan
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Fees: | 2.622%, including 2.06% for selling concessions
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Cusip: | 48125VF39
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