8-KExhibits & Filings

JPMORGAN CHASE & CO 8-K Report, Exhibit Filing (Sep 20, 2007)

Filed September 20, 2007For Securities:JPMJPM-PCJPM-PDJPM-PKJPM-PLJPM-PMJPM-PJAMJBVYLD

Summary

JPMorgan Chase & Co. (JPM) filed a Form 8-K on September 20, 2007, primarily to include an exhibit related to a specific debt offering. The filing incorporates by reference a Tax Opinion from Davis Polk & Wardwell concerning 10.70% Reverse Exchangeable Notes due September 22, 2008. These notes are linked to the common stock of Verizon Communications Inc. While this 8-K doesn't disclose new financial results or major corporate events, its significance lies in the details of a structured financial product offered by JPM. Investors interested in JPM's structured products or those who may have invested in or are considering these specific Verizon-linked notes will find this filing relevant for understanding the tax implications and legal opinions surrounding the issuance.

Key Highlights

  • 1Filing concerns JPMorgan Chase & Co.'s debt issuance.
  • 2Exhibit filed is a Tax Opinion from Davis Polk & Wardwell.
  • 3The opinion relates to 10.70% Reverse Exchangeable Notes due September 22, 2008.
  • 4These notes are linked to the common stock of Verizon Communications Inc.
  • 5The filing does not report new financial results or material business developments.
  • 6The Tax Opinion provides legal and tax guidance on the structured note offering.

Frequently Asked Questions

The primary purpose of this 8-K filing is to formally include, as an exhibit, a Tax Opinion from Davis Polk & Wardwell. This opinion pertains to a specific debt issuance by JPMorgan Chase & Co.: 10.70% Reverse Exchangeable Notes due September 22, 2008, which are linked to the common stock of Verizon Communications Inc.

No, this specific 8-K filing does not contain new financial statements, earnings results, or significant updates on JPM's overall business operations. Its focus is exclusively on a legal exhibit related to a particular structured note offering.

The issuer of the notes is JPMorgan Chase & Co. The notes are linked to the common stock of Verizon Communications Inc. The tax opinion was provided by the law firm Davis Polk & Wardwell.

Reverse Exchangeable Notes are a type of structured product. Typically, they offer investors a higher coupon rate (in this case, 10.70%) but the principal repayment at maturity is linked to the performance of an underlying asset, such as a stock. If the underlying stock price falls below a certain level, the investor may receive less than their principal back, potentially even the depreciated value of the underlying shares, rather than the full principal amount.