New Issue: JPMorgan prices $10,000 auto callable 12% reverse exchangeables linked to Foster Wheeler

By Laura Lutz

Washington, Jan. 30 - JPMorgan Chase & Co. priced a $10,000 issue of 12% auto callable reverse exchangeable notes due Jan. 30, 2008 linked to the common stock of Foster Wheeler Ltd., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If Foster Wheeler stock falls by more than 30% during the life of the notes, the notes will be called and the payout will be a number of Foster Wheeler shares equal to $1,000 divided by the initial share price.

If the notes are not called, the payout at maturity will be par.

J.P. Morgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Auto callable reverse exchangeable notes
Underlying stock:	Foster Wheeler Ltd.
Amount:	$10,000
Maturity:	Jan. 30, 2008
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	Par
Call:	If Foster Wheeler stock falls by more than 30% during the life of the notes, the notes will be called and the payout will be a number of Foster Wheeler shares equal to $1,000 divided by the initial share price
Initial price:	$53.98
Protection amount:	$16.194, 30% of initial price
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agent:	J.P. Morgan Securities Inc.
Fees:	4.25%, including 3.125% for selling concessions

© 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.