By Toni Weeks
San Diego, March 8 - JPMorgan Chase & Co. priced $2.09 million of 0% review notes due Sept. 9, 2011 linked to the price of copper, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call return of 5.45% if the price of copper closes at or above the initial price on any day from June 6 to Sept. 6, 2011.
If the notes are not called, the payout at maturity will be par if the final price of copper is at least 88% of the starting copper price. Otherwise, investors will lose 1% for every 1% decline below the starting price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying commodity: | Copper
|
| Amount: | $2,092,000
|
| Maturity: | Sept. 9, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final price of copper is at least 88% of starting price; otherwise, full exposure to price decline
|
| Call: | Automatically at par plus call premium of 5.45% if price of copper is greater than or equal to the starting price on any day from June 6 to Sept. 6
|
| Initial copper price: | $9,970.50
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48125XGG5
|
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