By Marisa Wong
Madison, Wis., March 28 - JPMorgan Chase & Co. priced $1.05 million of 10% annualized upside autocallable reverse exchangeable notes due Sept. 29, 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 at or above the initial share price on June 24.
The payout at maturity will be par unless Ford shares fall below 75% of the initial share price on any day during the life of the notes and finish below the initial 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 autocallable reverse exchangeable notes
|
| Underlying stock: | Ford Motor Co. (NYSE: F)
|
| Amount: | $1.05 million
|
| Maturity: | Sept. 29, 2011
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If shares fall below 75% of initial share price during life of the notes and finish below initial price, 66.4894 Ford shares or equivalent in cash; otherwise, par
|
| Call: | Automatically at par if Ford stock closes at or above initial share price on June 24
|
| Initial share price: | $15.04
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.83%, including 2% for selling concessions
|
| Cusip: | 48125XKK1
|
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