By Marisa Wong
Madison, Wis., Aug. 30 - JPMorgan Chase & Co. priced $1.36 million of 0% semiannual review notes due Feb. 29, 2012 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called if the fund share price closes at or above the initial price on any of three review dates.
Investors will receive par plus 7% if the notes are called on Feb. 23, 2011, par plus 14% if they are called on Aug. 29, 2011 and par plus 21% if they are called on Feb. 24, 2012.
Investors will receive par at maturity if the fund share price falls by up to 30% and will receive par plus the fund return if they decline beyond 30%.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Semiannual review notes
|
| Underlying fund: | Market Vectors Gold Miners ETF
|
| Amount: | $1.36 million
|
| Maturity: | Feb. 29, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if fund falls by up to 30%; full exposure to decline if fund falls beyond 30%
|
| Call: | If fund closes at or above initial price on any review date; payout will be par plus 7% if notes are called on Feb. 23, 2011, par plus 14% if called on Aug. 29, 2011 and par plus 21% if called on Feb. 24, 2012
|
| Initial share price: | $52.77
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 3.18%, including 0.2% for selling concessions
|
| Cusip: | 48124AXZ5
|
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