| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers V > Headlines for VeriFone Systems Inc. > News item |
JPMorgan plans 10% autocallable reverse exchangeables on VeriFone
By Susanna Moon
Chicago, Nov. 13 - JPMorgan Chase & Co. plans to price 10% upside autocallable reverse exchangeable notes due Nov. 24, 2014 linked to VeriFone Systems, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be at least 10%, with the exact rate to be set at pricing, and is payable monthly.
The notes will be called at par on any quarterly review date if the stock closes at or above the initial share price.
If the notes are not called, the payout at maturity will be par in cash, unless VeriFone shares fall below the 70% trigger level during the life of the notes and finish below the initial share price, in which case investors will receive a number of VeriFone shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the cash equivalent.
J.P. Morgan Securities LLC is the agent.
The notes will price on Nov. 19 and settle on Nov. 22.
The Cusip number is 48126NC96.
© 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.