Published on 11/17/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 10.3% reverse exchangeables linked to Matador Resources
New York, Nov. 17 - JPMorgan Chase & Co. priced $1 million of 10.3% reverse exchangeable notes due Nov. 18, 2015 linked to Matador Resources Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Matador Resources shares fall below the protection price of $16.7325, 75% of the initial price of $22.31, during the life of the notes and finish below the initial price in which case the payout will be 44.8229 shares of Matador Resources stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Matador Resources Co. (Symbol: MTDR)
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Amount: | $1 million
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Maturity: | Nov. 18, 2015
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Coupon: | 10.3%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Matador Resources shares fall below the protection price of $16.7325, 75% of the initial price, and finish below the initial price, in which case 44.8229 shares of Matador Resources stock
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Initial price: | $22.31
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Protection price: | $16.7325, 75% of $22.31
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Exchange ratio: | 44.8229
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Pricing date: | Nov. 13
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Settlement date: | Nov. 18
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Agent: | JPMorgan
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Fees: | 2.35%
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Cusip: | 48127DW38
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