Published on 11/2/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.15 million 9.5% ELKS linked to Hewlett-Packard
New York, Nov. 2 - JPMorgan Chase & Co. priced $4.1548 million of 9.5% Equity LinKed Securities due May 3, 2013 linked to Hewlett-Packard Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Hewlett-Packard shares fall below the protection price, 75% of the initial price of $13.85, during the life of the notes and finish below the initial price in which case the payout will be 0.7220 shares of Hewlett-Packard stock.
J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management as the distributor.
Issuer: | JPMorgan Chase & Co.
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Issue: | Equity LinKed Securities
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Underlying stock: | Hewlett-Packard Co.
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Amount: | $4.1548 million
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Maturity: | May 3, 2013
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Coupon: | 9.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Hewlett-Packard shares fall below the protection price, 75% of the initial price, and finish below the initial price, in which case 0.7220 shares of Hewlett-Packard stock
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Initial price: | $13.85
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Protection price: | $10.3875, 75% of $13.85
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Exchange ratio: | 0.7220
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Pricing date: | Oct. 31
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Settlement date: | Nov. 5
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Agent: | J.P. Morgan Securities LLC, with Morgan Stanley Wealth Management as distributor
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Fees: | 1.5%
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