New Issue: JPMorgan prices $1.725 million 11% reverse convertibles linked to Chicago Bridge

New York, Aug. 21 - JPMorgan Chase & Co. priced $1.725 million of 11% reverse convertible notes due Aug. 25, 2009 linked to Chicago Bridge & Iron Co. N.V. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Chicago Bridge shares fall below the protection price of $15.87, 50% of the initial price of $31.74, during the life of the notes and finish below the initial price in which case the payout will be 31.506 shares of Chicago Bridge stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Chicago Bridge & Iron Co. N.V. (Symbol: CBI)
Amount:	$1.725 million
Maturity:	Aug. 25, 2009
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Chicago Bridge shares fall below the protection price of $15.87, 50% of the initial price, and finish below the initial price, in which case 31.506 shares of Chicago Bridge stock
Initial price:	$31.74
Protection price:	$15.87, 50% of $31.74
Exchange ratio:	31.506
Pricing date:	Aug. 20
Settlement date:	Aug. 25
Agent:	JPMorgan
Fees:	2.42%

© 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.