Published on 9/13/2007 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $750,000 10% reverse exchangeables linked to Harley-Davidson
By Susanna Moon
Chicago, Sept. 13 - JPMorgan Chase & Co. priced $750,000 of 10% reverse exchangeable notes due Sept. 15, 2008 linked to the common stock of Harley-Davidson, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock falls by more than 25% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Harley-Davidson shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent cash value.
J.P. Morgan Securities Inc. is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Harley-Davidson, Inc. (NYSE: HOG)
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Amount: | $750,000
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Maturity: | Sept. 15, 2008
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | If the stock falls by more than the protection amount during the life of the notes and finishes below the initial share price, 21.1193 Harley-Davidson shares; otherwise, par
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Initial share price: | $47.35
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Protection amount: | $11.84, or 25% of initial share price
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Pricing date: | Sept. 12
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Settlement date: | Sept. 14
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Agent: | J.P. Morgan Securities Inc.
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Fees: | 4.723%, including 3.723% for selling concessions
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