Published on 3/27/2007 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.461 million 13% reverse exchangeables linked to SanDisk
By Jennifer Chiou
New York, March 27 - JPMorgan Chase & Co. priced a $1.461 million offering of 13% reverse exchangeable notes due March 28, 2008 linked to the common stock of SanDisk Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The payout at maturity will be par unless SanDisk stock falls by more than 30%, the protection amount, during the life of the notes and finishes below the initial share price of $44.88, in which case the payout will be a number of SanDisk shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Reverse exchangeable notes
|
| Underlying stock: | SanDisk Corp.
|
| Amount: | $1.461 million
|
| Maturity: | March 28, 2008
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless SanDisk stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case payout will be SanDisk shares equal to $1,000 divided by the initial share price
|
| Initial share price: | $44.88
|
| Protection amount: | $13.464, 30% of the initial share price
|
| Pricing date: | March 23
|
| Settlement date: | March 28
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 2.16%, including 2.08% for selling concessions
|
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