By Marisa Wong
Madison, Wis., Jan. 1 - JPMorgan Chase & Co. priced $9.62 million of 0% trigger autocallable optimization securities due Jan. 13, 2012 linked to the common stock of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus an annualized call return of 17.16% if Hess shares close at or above the initial share price on any of 12 monthly observation dates.
If the notes are not called and the final share price is greater than or equal to 80% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be par plus the stock return.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying stock: | Hess Corp. (NYSE: HES)
|
| Amount: | $9,615,670
|
| Maturity: | Jan. 13, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is 80% or more of initial share price, par; otherwise, par plus stock return
|
| Call: | Automatically at par plus annualized call return of 17.16% if stock closes at or above initial share price on any of 12 monthly observation dates
|
| Initial share price: | $79.17
|
| Trigger price: | $63.34, 80% of initial price
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 12
|
| Underwriter: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 46634X559
|
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