Published on 7/31/2013 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $140,000 10.25% reverse exchangeables linked to Whirlpool
New York, July 31 - JPMorgan Chase & Co. priced $140,000 of 10.25% reverse exchangeable notes due July 30, 2014 linked to Whirlpool Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Whirlpool shares fall below the protection price of $104.448, 80% of the initial price of $130.56, during the life of the notes and finish below the initial price in which case the payout will be 7.6593 shares of Whirlpool stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Whirlpool Corp. (Symbol: WHR)
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Amount: | $140,000
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Maturity: | July 30, 2014
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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 Whirlpool shares fall below the protection price of $104.448, 80% of the initial price, and finish below the initial price, in which case 7.6593 shares of Whirlpool stock
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Initial price: | $130.56
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Protection price: | $104.448, 80% of $130.56
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Exchange ratio: | 7.6593
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Pricing date: | July 29
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Settlement date: | July 31
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Agent: | JPMorgan
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Fees: | 3.08%
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Cusip: | 48126NKW6
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