Published on 12/17/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $673,000 5.9% reverse convertibles linked to Stanley
New York, Dec. 17 - JPMorgan Chase & Co. priced $673,000 of 5.9% reverse convertible notes due June 18, 2013 linked to Stanley Black & Decker, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Stanley shares fall below the protection price of $50.393, 70% of the initial price of $71.99, during the life of the notes and finish below the initial price in which case the payout will be 13.8908 shares of Stanley stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Stanley Black & Decker, Inc. (Symbol: SWK)
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Amount: | $673,000
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Maturity: | June 18, 2013
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Coupon: | 5.9%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Stanley shares fall below the protection price of $50.393, 70% of the initial price, and finish below the initial price, in which case 13.8908 shares of Stanley stock
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Initial price: | $71.99
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Protection price: | $50.393, 70% of $71.99
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Exchange ratio: | 13.8908
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Pricing date: | Dec. 13
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Settlement date: | Dec. 18
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Agent: | JPMorgan
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Cusip: | 48126DPD5
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