By Marisa Wong
Madison, Wis., April 25 - JPMorgan Chase & Co. priced $7.19 million of 0% capped daily observation knock-out notes due May 9, 2012 linked to Ford Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the price of Ford stock falls by more than 35% of the initial share price during the life of the notes, the payout at maturity will be par plus the stock return, with exposure to any losses.
Otherwise, the payout will be par plus the greater of the stock return and a contingent minimum return of 8%.
The maximum payment at maturity in either case will be $1,120 per $1,000 principal amount.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped daily observation knock-out notes
|
| Underlying stock: | Ford Motor Co. (NYSE: F)
|
| Amount: | $7,193,000
|
| Maturity: | May 9, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If share price falls by more than 35% of initial price during life of notes, par plus stock return with exposure to losses; otherwise, par plus greater of stock return and 8%; return capped at 12% in both cases
|
| Initial price: | $15.43
|
| Pricing date: | April 21
|
| Settlement date: | April 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125XNH5
|
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