JPMorgan to issue 12% bearish reverse exchangeables linked to financial services stocks

By Jennifer Chiou

New York, Jan. 8 - JPMorgan Chase & Co. plans to price an issue of 12% bearish reverse exchangeable notes due Jan. 30, 2008 linked to the best performing stock among a basket of financial services stocks, according to an FWP filing with the Securities and Exchange Commission.

The underlying basket includes Wells Fargo & Co., Fifth Third Bancorp and Countrywide Financial Corp.

At maturity, investors will receive par in cash unless the final price of any of the stocks is greater than its initial level and it has closed at or above 130% of the initial level at any time during the life of the notes. If the trigger is hit and any of the stocks close above the initial level, investors will receive par minus the gain on the best performing stock, with a floor of zero.

The notes will price on Jan. 26 and settle on Jan. 31.

J.P. Morgan Securities Inc. will be the agent.

© 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.