Summary
This 8-K filing from JPMorgan Chase & Co. on September 28, 2007, primarily serves to file a Tax Opinion from Davis Polk & Wardwell. This opinion pertains to specific financial instruments: 15.25% Reverse Exchangeable Notes due March 28, 2008, which are linked to the performance of the least performing common stock within the Dow Jones Industrial Average (excluding JPM's own stock).
Key Highlights
- 1Filing of a Tax Opinion for a specific debt issuance.
- 2The notes are 'Reverse Exchangeable Notes', indicating a complex financial product.
- 3The notes offer a high coupon rate of 15.25% (equivalent to 30.50% per annum).
- 4Maturity date for these notes is March 28, 2008.
- 5The performance is linked to the least performing stock in the Dow Jones Industrial Average (DJIA).
- 6JPMorgan Chase & Co.'s own stock is excluded from the performance linkage.
- 7The Tax Opinion was provided by the legal firm Davis Polk & Wardwell.