Published on 4/22/2014 in the Prospect News Structured Products Daily.
Correction: JPMorgan prices $931,000 9% reverse exchangeables linked to Yahoo
New York, April 22 - JPMorgan Chase & Co. amended the total amount of its recently priced 9% reverse exchangeable notes due Oct. 20, 2014 linked to Yahoo! Inc. shares to $931,000 from $913,000, according to a 424B8 filing with the Securities and Exchange Commission.
As reported, the payout at maturity will be par in cash unless Yahoo shares fall below the protection price of $25.6575, 75% of the initial price of $34.21, during the life of the notes and finish below the initial price in which case the payout will be 29.2312 shares of Yahoo stock.
JPMorgan is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Reverse exchangeable notes
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Underlying stock: | Yahoo! Inc. (Symbol: YHOO)
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Amount: | $931,000
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Maturity: | Oct. 20, 2014
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Yahoo shares fall below the protection price of $25.6575, 75% of the initial price, and finish below the initial price, in which case 29.2312 shares of Yahoo stock
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Initial price: | $34.21
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Protection price: | $25.6575, 75% of $34.21
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Exchange ratio: | 29.2312
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Pricing date: | April 15
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Settlement date: | April 21
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Amendment date: | April 21
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Agent: | JPMorgan
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Fees: | 1.85%
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Cusip: | 48127DDM7
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