By Jennifer Chiou
New York, Jan. 14 - JPMorgan Chase & Co. priced $250,000 of 13% annualized upside autocallable reverse exchangeable notes due July 18, 2011 linked to the common stock of Supervalu Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if Supervalu stock closes above the initial share price on April 13, 2011.
The payout at maturity will be par unless the final share price is less than 60% of the initial share price, in which case the payout will be a number of Supervalu shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable reverse exchangeable notes
|
| Underlying stock: | Supervalu Inc. (Symbol: SVU)
|
| Amount: | $250,000
|
| Maturity: | July 18, 2011
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than 60% of initial share price, number of Supervalu shares equal to $1,000 divided by initial share price or equivalent value in cash; otherwise, par
|
| Call: | Automatically at par if Supervalu stock closes above initial share price on April 13
|
| Initial share price: | $7.71
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%, including 2.5% for selling concessions
|
| Cusip: | 48125XBC9
|
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