Published on 12/31/2009 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $0.04 million 12.75% reverse convertibles linked to Allegheny Technologies
New York, Dec. 30 - JPMorgan Chase & Co. priced $0.044 million of 12.75% reverse convertible notes due July 1, 2010 linked to Allegheny Technologies Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Allegheny Technologies shares fall below the protection price of $31.29, 70% of the initial price of $44.70, during the life of the notes and finish below the initial price in which case the payout will be Allegheny Technologies 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: | Allegheny Technologies Inc. (Symbol: ATI)
|
Amount: | $0.044 million
|
Maturity: | July 1, 2010
|
Coupon: | 12.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Allegheny Technologies shares fall below the protection price of $31.29, 70% of the initial price, and finish below the initial price, in which case Allegheny Technologies shares equal to $1,000 principal amount divided by the initial price
|
Initial price: | $44.70
|
Protection price: | $31.29, 70% of $44.70
|
Pricing date: | Dec. 28
|
Settlement date: | Dec. 31
|
Agent: | JPMorgan
|
Fees: | 2.15%
|
© 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.