By Marisa Wong
Madison, Wis., Nov. 18 - JPMorgan Chase & Co. priced $4 million of 0% autocallable optimization securities with contingent protection due Nov. 22, 2011 linked to the class A common stock of VMware, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If VMware's shares close at or above the initial share price of any of 12 monthly observation dates, the notes will be automatically called at par of $10 plus an annualized call premium of 27.5%.
If the notes are not called and the stock finishes at or above 70% of the initial price, the payout at maturity will be par. Otherwise, the payout will be par plus the stock return.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable optimization securities with contingent protection
|
| Underlying stock: | VMware, Inc. (NYSE: VMW)
|
| Amount: | $4 million
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| Maturity: | Nov. 22, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par if final share price is greater than or equal to trigger price; otherwise, par plus share price return
|
| Call: | At par plus annualized call premium of 27.5% if VMware's shares close at or above the initial price on any of 12 monthly observation dates
|
| Initial share price: | $76.62
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| Trigger price: | $53.63, or 70% of initial price
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 19
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
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| Cusip: | 46634X682
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