New Issue: JPMorgan prices $202,000 16.75% reverse convertibles linked to Silvercorp Metals

New York, July 19 - JPMorgan Chase & Co. priced $202,000 of 16.75% reverse convertible notes due Oct. 20, 2011 linked to Silvercorp Metals Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Silvercorp Metals shares fall below the protection price of $8.535, 75% of the initial price of $11.38, during the life of the notes and finish below the initial price in which case the payout will be 87.8735 shares of Silvercorp Metals stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Silvercorp Metals Inc. (Symbol: SVM)
Amount:	$202,000
Maturity:	Oct. 20, 2011
Coupon:	16.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Silvercorp Metals shares fall below the protection price of $8.535, 75% of the initial price, and finish below the initial price, in which case 87.8735 shares of Silvercorp Metals stock
Initial price:	$11.38
Protection price:	$8.535, 75% of $11.38
Exchange ratio:	87.8735
Pricing date:	July 15
Settlement date:	July 20
Agent:	JPMorgan
Cusip:	48125XXZ4

© 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.