Published on 6/29/2010 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $275,000 12.75% reverse convertibles linked to Goldman Sachs
New York, June 29 - JPMorgan Chase & Co. priced $275,000 of 12.75% reverse convertible notes due Dec. 31, 2010 linked to Goldman Sachs Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Goldman Sachs shares fall below the protection price of $104.745, 75% of the initial price of $139.66, during the life of the notes and finish below the initial price in which case the payout will be 7.1602 shares of Goldman Sachs stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Goldman Sachs Group, Inc. (Symbol: GS)
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Amount: | $275,000
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Maturity: | Dec. 31, 2010
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Coupon: | 12.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Goldman Sachs shares fall below the protection price of $104.745, 75% of the initial price, and finish below the initial price, in which case 7.1602 shares of Goldman Sachs stock
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Initial price: | $139.66
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Protection price: | $104.745, 75% of $139.66
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Exchange ratio: | 7.1602
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | JPMorgan
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Cusip: | 48124ATR8
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