Published on 11/16/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.8 million 10% upside autocallables linked to Halliburton
By Angela McDaniels
Tacoma, Wash., Nov. 16 - JPMorgan Chase & Co. priced $3.8 million of 10% upside autocallable single observation reverse exchangeable notes due Nov. 16, 2012 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if Halliburton stock closes above the initial share price on Feb. 17, 2012, May 17, 2012, Aug. 17, 2012 or Nov. 14, 2012.
The payout at maturity will be par unless the final price of Halliburton stock has declined from the initial share price by more than 47%, in which case the payout will be a number of Halliburton shares equal to $1,000 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable single observation reverse exchangeable notes
|
| Underlying stock: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $3.8 million
|
| Maturity: | Nov. 16, 2012
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price of Halliburton stock is less than initial share price by more than protection amount, 25.9538 Halliburton shares or equivalent amount in cash; otherwise, par
|
| Call: | Automatically at par if Halliburton stock closes above initial share price on Feb. 17, 2012, May 17, 2012, Aug. 17, 2012 or Nov. 14, 2012
|
| Initial share price: | $38.53
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| Protection amount: | $18.1091, 47% of initial share price
|
| Pricing date: | Nov. 14
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| Settlement date: | Nov. 17
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.79%, including 3.188% for selling concessions
|
| Cusip: | 48125VCW8
|
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