By Angela McDaniels
Tacoma, Wash., Aug. 22 - JPMorgan Chase & Co. priced $5.25 million of upside autocallable single observation reverse exchangeable notes due Feb. 24, 2012 linked to the common stock of Manitowoc Co., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes carry a coupon of 19.5% per year. Interest is payable monthly.
The notes will be automatically called at par if Manitowoc stock closes above the initial share price on Nov. 18.
The payout at maturity will be par unless the final price of Manitowoc stock has declined from the initial share price by more than 50%, in which case the payout will be a number of Manitowoc shares equal to $1,000 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable single observation reverse exchangeable notes
|
| Underlying stock: | Manitowoc Co., Inc. (NYSE: MTW)
|
| Amount: | $5.25 million
|
| Maturity: | Feb. 24, 2012
|
| Coupon: | 19.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price of Manitowoc stock is less than initial share price by more than protection amount, 104.6025 Manitowoc shares or equivalent amount in cash; otherwise, par
|
| Call: | Automatically at par if Manitowoc stock closes at or above initial share price on Nov. 11
|
| Initial share price: | $9.56
|
| Protection amount: | $4.78, 50% of initial share price
|
| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.421%, including 1% for selling concessions
|
| Cusip: | 48125XP75
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