By Jennifer Chiou
New York, Jan. 10 - JPMorgan Chase & Co. priced a $30,000 issue of 15.75% auto callable reverse exchangeable notes due Dec. 31, 2007 linked to the common stock of General Motors Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If General Motors stock falls by more than 70% during the life of the notes, the notes will be called and the payout will be a number of General Motors shares equal to $1,000 divided by the initial share price.
If the notes are not called, the payout at maturity will be par.
J.P. Morgan Securities Inc. is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Auto callable reverse exchangeable notes
|
| Underlying stock: | General Motors Corp.
|
| Amount: | $30,000
|
| Maturity: | Dec. 31, 2007
|
| Coupon: | 15.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | If General Motors stock falls by more than 70% during the life of the notes, the notes will be called and the payout will be a number of General Motors shares equal to $1,000 divided by the initial share price
|
| Initial price: | $29.77
|
| Protection price: | $8.93, 30% of initial price
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 12
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 2%
|
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