New Issue: JPMorgan prices $175,000 10.25% upside auto callable reverse exchangeables linked to Ford

By Angela McDaniels

Tacoma, Wash., Sept. 29 - JPMorgan Chase & Co. priced $175,000 of 10.25% upside auto callable single observation reverse exchangeable notes due Sept. 30, 2011 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Ford stock closes above the initial share price on Dec. 28, March 28, June 27, 2011 or Sept. 27, 2011.

The payout at maturity will be par unless the final share price is less than 80% of the initial share price, in which case the payout will be a number of Ford shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Upside auto callable single observation reverse exchangeable notes
Underlying stock:	Ford Motor Co. (Symbol: F)
Amount:	$175,000
Maturity:	Sept. 30, 2011
Coupon:	10.25%, payable monthly
Price:	Par
Payout at maturity:	If final share price is less than 80% of initial share price, number of Ford shares equal to $1,000 divided by initial share price or equivalent value in cash; otherwise, par
Call:	Automatically at par if Ford stock closes above initial share price on Dec. 28, March 28, June 27, 2011 or Sept. 27, 2011
Initial share price:	$12.48
Pricing date:	Sept. 27
Settlement date:	Sept. 30
Agent:	J.P. Morgan Securities LLC
Fees:	3.4%, including 2.45% for selling concessions
Cusip:	48124AJ40

© 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.