US Wrap: JP Morgan in year-end $2m reverse convertible deal
JP Morgan slotted in a reverse convertible offering with a size of nearly US$2 million before year-end 2009, according to a filing with the Securities and Exchange Commission. The aggregate deal offers investors a choice of three different underlyings in three separate note transactions - Apple, Bank of America and Caterpillar.
Notes linked to Bank of America stock made up $886,000 of the offering, while Apple and Caterpillar represented $581,000 and $519,000 respectively. Annualised coupons
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