By Susanna Moon
Chicago, Dec. 15 - JPMorgan Chase & Co. priced $413,000 of 13% annualized upside autocallable single observation reverse exchangeable notes due June 18, 2012 linked to Schlumberger NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Schlumberger stock closes above the initial share price on March 13.
The payout at maturity will be par unless the stock falls by more than 20%, in which case the payout will be a number of Schlumberger 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: | Schlumberger NV (NYSE: SLB)
|
| Amount: | $413,000
|
| Maturity: | June 18, 2012
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless stock falls by more than protection amount, in which case 14.2025 Schlumberger shares or cash equivalent
|
| Call: | At par if Schlumberger stock closes above initial share price on March 13
|
| Initial share price: | $70.41
|
| Protection amount: | $14.08, 20% of initial price
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.5%, including 2.5% for selling concessions
|
| Cusip: | 48125VEU0
|
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