Published on 7/26/2011 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $21.19 million trigger autocallable optimization securities on Halliburton
By Marisa Wong
Madison, Wis., July 26 - JPMorgan Chase & Co. priced $21.19 million of 0% trigger autocallable optimization securities due July 26, 2012 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Halliburton stock closes at or above the initial share price on any of 12 monthly observation dates, the notes will be called at par of $10 plus an annualized call return of 21.95%.
The payout at maturity will be par if Halliburton stock finishes at or above 75% of the initial share price. Otherwise, investors will be exposed to any share price decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase & Co.
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Issue: | Trigger autocallable optimization securities
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Underlying stock: | Halliburton Co. (NYSE: HAL)
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Amount: | $21,185,020
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Maturity: | July 26, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If Halliburton stock finishes at or above $42.90, which is 75% of initial price, par; otherwise exposure to losses
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Initial price: | $57.20
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Trigger price: | $42.90, 75% of initial
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Call option: | Par plus 21.95% per year if Halliburton stock closes at or above the initial share price on any of 12 monthly observation dates
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Pricing date: | July 22
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Settlement date: | July 27
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 46636T408
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