Published on 1/16/2009 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $0.186 million 8.00% reverse convertibles linked to Walt Disney
New York, Jan. 16 - JPMorgan Chase & Co. priced $0.186 million of 8.00% reverse convertible notes due Jan. 20, 2010 linked to Walt Disney Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Walt Disney shares fall below the protection price of $10.68, 50% of the initial price of $21.36, during the life of the notes and finish below the initial price in which case the payout will be 46.8165 shares of Walt Disney stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse convertible notes
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Underlying stock: | Walt Disney Co. (Symbol: DIS)
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Amount: | $0.186 million
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Maturity: | Jan. 20, 2010
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Coupon: | 8.00%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Walt Disney shares fall below the protection price of $10.68, 50% of the initial price, and finish below the initial price, in which case 46.8165 shares of Walt Disney stock
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Initial price: | $21.36
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Protection price: | $10.68, 50% of $21.36
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Exchange ratio: | 46.8165
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Pricing date: | Jan. 15
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Settlement date: | Jan. 20
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Agent: | JPMorgan
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Fees: | 3.75%
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