Published on 2/26/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $530,000 10.25% reverse convertibles linked to Smith
New York, Feb. 26 - JPMorgan Chase & Co. priced $530,000 of 10.25% reverse convertible notes due Aug. 27, 2013 linked to Smith & Wesson Holding Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Smith shares fall below the protection price of $5.46, 60% of the initial price of $9.10, during the life of the notes and finish below the initial price in which case the payout will be 109.8901 shares of Smith stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Smith & Wesson Holding Corp. (Symbol: SWHC)
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Amount: | $530,000
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Maturity: | Aug. 27, 2013
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Coupon: | 10.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Smith shares fall below the protection price of $5.46, 60% of the initial price, and finish below the initial price, in which case 109.8901 shares of Smith stock
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Initial price: | $9.10
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Protection price: | $5.46, 60% of $9.10
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Exchange ratio: | 109.8901
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Pricing date: | Feb. 22
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Settlement date: | Feb. 27
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Agent: | JPMorgan
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Fees: | 3.65%, including 2.25% for selling concessions
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Cusip: | 48126DYF0
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