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 upside autocallable reverse exchangeables on VeriFone
By Toni Weeks
San Luis Obispo, Calif., April 30 - JPMorgan Chase & Co. plans to price upside autocallable reverse exchangeable notes due May 12, 2015 linked to VeriFone Systems, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The notes will carry a coupon of 8.75% to 10.75%. Interest will be payable monthly, and the exact rate will be set at pricing.
The notes will be called at par if the stock closes at or above the initial share price on any of two call dates, which are Nov. 7, 2014 and Feb. 9, 2015.
If the notes are not called, the payout at maturity will be par unless VeriFone stock closes below the buffer level, 70% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of VeriFone shares equal to $1,000 divided by the initial share price.
The notes (Cusip: 48127DGF9) are expected to price May 7 and settle May 12.
J.P. Morgan Securities LLC is the agent.
© 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.