By Jennifer Chiou
New York, Oct. 26 - JPMorgan Chase & Co. priced $18.35 million of 0% autocallable optimization securities with contingent protection due Oct. 28, 2011 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Ford's shares close at or above the initial share price of any of 12 monthly observation dates, the notes will be automatically called and investors will receive par of $10 plus an annualized call premium of 20%.
If the notes are not called and the final share price is greater than or equal to 70% of the initial price, the payout at maturity will be par. If the final share price is less than 70% of the initial price, the payout will be par plus the stock return.
UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying stock: | Ford Motor Co. (NYSE: F)
|
| Amount: | $18,350,500
|
| Maturity: | Oct. 28, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if final share price is greater than or equal to trigger price; otherwise, par plus share price return
|
| Call: | Automatically at par plus annualized call premium of 20% if Ford's shares close at or above the initial price on any of 12 monthly observation dates
|
| Initial share price: | $13.95
|
| Trigger price: | $9.77, 70% of initial price
|
| Pricing date: | Oct. 22
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| Settlement date: | Oct. 27
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities Inc.
|
| Fees: | 1.25%
|
| Cusip: | 46634X765
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