By Toni Weeks
San Diego, March 6 - JPMorgan Chase & Co. priced $2.61 million of 0% trigger phoenix autocallable optimization securities due March 7, 2013 linked to the iShares Russell 2000 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above the trigger price - 75% of the initial share price - on any quarterly observation date, the issuer will pay a contingent coupon of 10.5%. Otherwise, no coupon will be paid for that quarter.
If the fund closes at or above the initial price on any observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Investors will be exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying fund: | iShares Russell 2000 index fund
|
| Amount: | $2,609,200
|
| Maturity: | March 7, 2013
|
| Coupon: | 10.5% per year, payable quarterly only if the fund closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If shares finish at or above the trigger price, par plus contingent coupon; otherwise, exposure to losses
|
| Call: | At par plus contingent coupon if share price at or above initial price on any quarterly observation date
|
| Initial share price: | $80.25
|
| Trigger price: | $60.19, 75% of initial share price
|
| Pricing date: | March 2
|
| Settlement date: | March 7
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48126B236
|
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