By Susanna Moon
Chicago, Sept. 13 - JPMorgan Chase & Co. priced $2.17 million of 9.75% trigger yield optimization notes due Sept. 14, 2012 linked to El Paso Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is equal to the initial price of El Paso stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of El Paso stock is less than 75% of the initial share price, in which case investors will receive one El Paso share per note.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger yield optimization notes
|
| Underlying stock: | El Paso Corp. (NYSE: EP)
|
| Amount: | $2,165,525.76
|
| Maturity: | Sept. 14, 2012
|
| Coupon: | 9.75%, payable monthly
|
| Price: | Par of $18.24
|
| Payout at maturity: | If final share price is less than trigger price, one El Paso share; otherwise, par
|
| Initial share price: | $18.24
|
| Trigger price: | $13.68, or 75% of initial price
|
| Pricing date: | Sept. 9
|
| Settlement date: | Sept. 14
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46636T747
|
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