By Toni Weeks
San Diego, March 20 - JPMorgan Chase & Co. priced $7.07 million of autocallable contingent interest notes due April 4, 2013 linked to the common stock of Wells Fargo & Co., according to a 424B2 with the Securities and Exchange Commission.
If the stock closes at or above the 70% trigger level on any review date, the notes will pay a coupon that quarter at an annualized rate of 12.6%. Otherwise, no coupon will be paid for that quarter.
If the stock closes at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Wells Fargo & Co.
|
| Amount: | $7,065,000
|
| Maturity: | April 4, 2013
|
| Coupon: | If share price finishes at or above trigger level on quarterly review date, 3.15% that quarter; otherwise, no coupon paid that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to trigger level, par plus 3.15%; otherwise, full exposure to stock decline from initial share price
|
| Call: | Automatically at par plus 3.15% if stock closes at or above initial share price on any quarterly review date other than final review date
|
| Initial share price: | $33.89
|
| Trigger level: | $23.723, 70% of initial share price
|
| Pricing date: | March 16
|
| Settlement date: | March 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VRQ5
|
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