New Issue: JPMorgan prices $346,000 12.45% reverse convertibles linked to Monster Beverage

New York, June 17 - JPMorgan Chase & Co. priced $346,000 of 12.45% reverse convertible notes due Dec. 18, 2013 linked to Monster Beverage Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Monster Beverage shares fall below the protection price of $43.4, 70% of the initial price of $62.00, during the life of the notes and finish below the initial price in which case the payout will be 16.129 shares of Monster Beverage stock.

JPMorgan is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Reverse convertible notes
Underlying stock:	Monster Beverage Corp. (Symbol: MNST)
Amount:	$346,000
Maturity:	Dec. 18, 2013
Coupon:	12.45%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Monster Beverage shares fall below the protection price of $43.4, 70% of the initial price, and finish below the initial price, in which case 16.129 shares of Monster Beverage stock
Initial price:	$62.00
Protection price:	$43.4, 70% of $62.00
Exchange ratio:	16.129
Pricing date:	June 13
Settlement date:	June 18
Agent:	JPMorgan
Fees:	1%
Cusip:	48126NDC8

© 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.