By Marisa Wong
Madison, Wis., April 27 - JPMorgan Chase & Co. priced $1.2 million of 10% upside autocallable single observation reverse exchangeable notes due April 30, 2013 linked to Royal Caribbean Cruises Ltd. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if Royal Caribbean stock closes above the initial share price on any of three quarterly call dates.
The payout at maturity will be par unless Royal Caribbean stock finishes below the 60% trigger level, in which case investors will receive a number of Royal Caribbean shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the cash equivalent.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable single observation reverse exchangeable notes
|
| Underlying stock: | Royal Caribbean Cruises Ltd. (NYSE: RCL)
|
| Amount: | $1.2 million
|
| Maturity: | April 30, 2013
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Royal Caribbean stock finishes below trigger level, in which case a number of Royal Caribbean shares equal to $1,000 divided by initial share price or cash equivalent
|
| Call: | At par plus accrued interest if Royal Caribbean stock closes above initial share price on any of three quarterly call dates
|
| Initial share price: | $26.83
|
| Buffer amount: | $10.732, 40% of initial price
|
| Exchange ratio: | 37.2717 shares
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.333%, including 2.75% for selling concessions
|
| Cusip: | 48125VVR8
|
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