By Angela McDaniels
Tacoma, Wash., June 29 - JPMorgan Chase & Co. priced $1.61 million of 0% barrier optimization securities with partial protection due July 29, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes above the index barrier on any day during the life of the notes, the payout at maturity will be par of $10 plus 2%. The index barrier is 132% of the initial index level.
Otherwise, the payout will be:
• Par plus the index return if the final index level is greater than the initial level;
• Par if the index declines by 10% or less; or
• Par minus 1% for every 1% that the index declines beyond 10%.
UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Barrier optimization securities with partial protection
|
| Underlying index: | S&P 500
|
| Amount: | $1,607,950
|
| Maturity: | July 29, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index closes above index barrier during life of notes, par plus 2%; otherwise, par plus any index gain, par if index declines by 10% or less or par minus 1% for every 1% decline beyond 10%
|
| Initial index level: | 1,076.76
|
| Index barrier: | 1,421.3232, 132% of initial level
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities Inc.
|
| Fees: | 1.35%
|
| Cusip: | 46634E338
|
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