By Susanna Moon
Chicago, June 18 - JPMorgan Chase & Co. priced $4.57 million of 9.5% yield optimization notes with contingent protection due June 22, 2011 based on Hess Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $55.00, which is equal to the closing price of Hess stock on the pricing date.
Interest is payable monthly.
The payout at maturity will be par unless the final stock price is less than 75% of the initial share price, in which case the payout will be one Hess share.
UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Hess Corp. (NYSE: HES)
|
| Amount: | $4,567,915
|
| Maturity: | June 22, 2011
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par of $55.00
|
| Payout at maturity: | If final share price is less than trigger price, one Hess share; otherwise, par
|
| Initial share price: | $55.00
|
| Trigger price: | $41.25, 75% of initial price
|
| Pricing date: | June 16
|
| Settlement date: | June 21
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities Inc.
|
| Fees: | 2%
|
| Cusip: | 46634E320
|
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