Published on 7/31/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $205,000 9.25% reverse convertibles linked to Halliburton
New York, July 31 - JPMorgan Chase & Co. priced $205,000 of 9.25% reverse convertible notes due Jan. 31, 2013 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Halliburton shares fall below the protection price of $26.896, 80% of the initial price of $33.62, during the life of the notes and finish below the initial price in which case the payout will be 29.7442 shares of Halliburton stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Halliburton Co. (Symbol: HAL)
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Amount: | $205,000
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Maturity: | Jan. 31, 2013
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Coupon: | 9.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Halliburton shares fall below the protection price of $26.896, 80% of the initial price, and finish below the initial price, in which case 29.7442 shares of Halliburton stock
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Initial price: | $33.62
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Protection price: | $26.896, 80% of $33.62
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Exchange ratio: | 29.7442
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Pricing date: | July 27
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Settlement date: | July 31
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Agent: | JPMorgan
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Fees: | 2.47%
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Cusip: | 48125VT59
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