JPMorgan to price 13% reverse exchangeables linked to Monsanto

By E. Janene Geiss

Philadelphia, March 12 - JPMorgan Chase & Co. plans to price 13% annualized reverse exchangeable notes due Sept. 30, 2009 linked to the common stock of Monsanto Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Monsanto stock falls by more than 40% during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Monsanto shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the equivalent value in cash.

The notes are expected to price on March 26 and settle on March 31.

J.P. Morgan Securities Inc. will be the agent.

© 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.