By Susanna Moon
Chicago, Dec. 15 - JPMorgan Chase & Co. priced $197,000 of 13.75% annualized upside autocallable single observation reverse exchangeable notes due June 18, 2012 linked to Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Wells Fargo 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 Wells Fargo 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.
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Issue: | Upside autocallable single observation reverse exchangeable notes
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Underlying stock: | Wells Fargo & Co. (NYSE: WFC)
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Amount: | $197,000
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Maturity: | June 18, 2012
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Coupon: | 13.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless the stock falls by more than protection amount, in which case 38.7747 Wells Fargo shares or cash equivalent
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Call: | At par if Wells Fargo stock closes above initial share price on March 13
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Initial share price: | $25.79
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Protection amount: | $5.158, 20% of initial price
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Pricing date: | Dec. 13
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Settlement date: | Dec. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.9%, including 2.2% for selling concessions
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Cusip: | 48125VET3
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