Published on 4/9/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $406,370 contingent absolute return autocallables linked to MetroPCS
By Angela McDaniels
Tacoma, Wash., April 9 - JPMorgan Chase & Co. priced $406,370 of 0% contingent absolute return autocallable optimization securities due April 12, 2013 linked to the common stock of MetroPCS Communications, Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 17% if MetroPCS stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 60% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent absolute return autocallable optimization securities
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| Underlying stock: | MetroPCS Communications, Inc. (NYSE: PCS)
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| Amount: | $406,370
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| Maturity: | April 12, 2013
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| Coupon: | 0%
|
| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
|
| Call: | At par plus 17% per year if MetroPCS stock closes at or above initial share price on July 5, 2012, Oct. 5, 2012, Jan. 7, 2013 or April 8, 2013
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| Initial share price: | $8.85
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| Trigger price: | $5.31, 60% of initial share price
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| Pricing date: | April 5
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| Settlement date: | April 11
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46637G603
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