By Jennifer Chiou
New York, Aug. 18 - JPMorgan Chase & Co. priced $24.22 million of 15.2% annualized yield optimization notes with contingent protection due Feb. 23, 2011 linked to the common stock of International Paper Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $21.59, which is equal to the closing price of International Paper stock on the pricing date.
Interest is payable monthly.
The payout at maturity will be par unless the final price of International Paper stock is less than 75% of the initial share price, in which case the payout will be one share of International Paper stock per note.
UBS Financial Services Inc. is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | International Paper Co. (Symbol: IP)
|
| Amount: | $24,217,546.18
|
| Maturity: | Feb. 23, 2011
|
| Coupon: | 15.2%, payable monthly
|
| Price: | Par of $21.59
|
| Payout at maturity: | If final share price is less than trigger price, one International Paper share; otherwise, par
|
| Initial share price: | $21.59
|
| Trigger price: | $16.19, 75% of initial price
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 19
|
| Underwriter: | UBS Financial Services Inc.
|
| Fees: | 1%
|
| Cusip: | 46634X203
|
© 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.
