By Angela McDaniels
Tacoma, Wash., Oct. 20 - JPMorgan Chase & Co. priced $7.2 million of 9.75% yield optimization notes with contingent protection due Oct. 20, 2011 linked to the common stock of Chesapeake Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the agents.
Each note priced at par of $28.67, which is equal to the closing price of Chesapeake Energy stock on the pricing date.
Interest is payable monthly.
If the final share price of Chesapeake Energy stock is greater than or equal to 60% of the initial price, the payout at maturity will be par. Otherwise, the payout will be a cash amount equal to the final share price.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Chesapeake Energy Corp. (NYSE: CHK)
|
| Amount: | $7,204,972
|
| Maturity: | Oct. 20, 2011
|
| Coupon: | 9.75%, payable monthly
|
| Price: | Par of $28.67
|
| Payout at maturity: | If Chesapeake Energy shares finish below trigger price, cash amount equal to final share price; otherwise, par
|
| Initial share price: | $28.67
|
| Trigger price: | $17.202, 60% of initial price
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities Inc.
|
| Fees: | 2.75%
|
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