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JPMorgan to price 11.25% reverse exchangeables linked to Jacobs Engineering
By Susanna Moon
Chicago, May 7 - JPMorgan Chase & Co. plans to price 11.25% annualized reverse exchangeable notes due Dec. 1, 2008 linked to Jacobs Engineering Group Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the stock falls by more than the protection amount - 25% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Jacobs Engineering shares equal to $1,000 divided by the initial share price.
The notes will price on May 27 and settle on May 30.
J.P. Morgan Securities Inc. will be the agent.
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