Published on 5/16/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 9.5% reverse exchangeables linked to Sodastream International
New York, May 16 - JPMorgan Chase & Co. priced $1 million of 9.5% reverse exchangeable notes due Aug. 19, 2014 linked to Sodastream International Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Sodastream International shares fall below the protection price of $28.01, 68.1177% of the initial price of $41.12, during the life of the notes and finish below the initial price in which case the payout will be 24.3191 shares of Sodastream International stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Sodastream International Ltd. (Symbol: SODA)
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Amount: | $1 million
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Maturity: | Aug. 19, 2014
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Coupon: | 9.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Sodastream International shares fall below the protection price of $28.01, 68.1177% of the initial price, and finish below the initial price, in which case 24.3191 shares of Sodastream International stock
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Initial price: | $41.12
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Protection price: | $28.01, 68.1177% of $41.12
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Exchange ratio: | 24.3191
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Pricing date: | May 14
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Settlement date: | May 19
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Agent: | JPMorgan
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Fees: | 1%
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Cusip: | 48127DJP4
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