Published on 3/15/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $565,000 14.6% reverse convertibles linked to Hecla Mining
New York, March 15 - JPMorgan Chase & Co. priced $565,000 of 14.6% reverse convertible notes due June 19, 2012 linked to Hecla Mining Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Hecla Mining shares fall below the protection price of $3.409, 70% of the initial price of $4.87, during the life of the notes and finish below the initial price in which case the payout will be 205.3388 shares of Hecla Mining stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Reverse convertible notes
|
Underlying stock: | Hecla Mining Co. (Symbol: HL)
|
Amount: | $565,000
|
Maturity: | June 19, 2012
|
Coupon: | 14.6%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Hecla Mining shares fall below the protection price of $3.409, 70% of the initial price, and finish below the initial price, in which case 205.3388 shares of Hecla Mining stock
|
Initial price: | $4.87
|
Protection price: | $3.409, 70% of $4.87
|
Exchange ratio: | 205.3388
|
Pricing date: | March 13
|
Settlement date: | March 19
|
Agent: | JPMorgan
|
Fees: | 2.35%, including 1.5% for selling concessions
|
Cusip: | 48125VRT9
|
© 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.