New Issue: JPMorgan prices $585,000 semiannual review notes on Financial Select Sector SPDR fund

By Jennifer Chiou

New York, Sept. 13 - JPMorgan Chase & Co. priced $585,000 of 0% semiannual review notes due March 14, 2012 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called if the exchange-traded fund's shares close at or above the initial share price on any of three semiannual review dates. The redemption amount will be par plus 8% if the notes are called on March 9, 2011, par plus 16% if called on Sept. 12, 2011 and par plus 24% if called on March 9, 2012.

If the notes are not called and the final share price is at least 70% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be par plus the fund return.

J.P. Morgan Securities Inc. is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Semiannual review notes
Underlying ETF:	Financial Select Sector SPDR fund
Amount:	$585,000
Maturity:	March 14, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par if final share price is at least 70% of initial price; otherwise, par plus fund return
Call:	Automatically at par plus premium of 16% per year if fund closes at or above initial share price on March 9, 2011, Sept. 12, 2011 or March 9, 2012
Initial share price:	$14.50
Pricing date:	Sept. 9
Settlement date:	Sept. 14
Agent:	J.P. Morgan Securities Inc.
Fees:	1.14%
Cusip:	48124AZZ3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.