By Toni Weeks
San Diego, May 24 - JPMorgan Chase & Co. priced $5.92 million of 8.52% trigger yield optimization notes due May 25, 2012 linked to the common stock of Occidental Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The face amount of each note is equal to $100.40, which is the initial price of Occidental stock.
The payout at maturity will be par unless the final price of Occidental stock is less than 80% of the initial share price, in which case investors will receive one Occidental share per note.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger yield optimization notes
|
| Underlying stock: | Occidental Petroleum Corp. (NYSE: OXY)
|
| Amount: | $5,923,600
|
| Maturity: | May 25, 2012
|
| Coupon: | 8.52%, payable monthly
|
| Price: | Par of $100.40
|
| Payout at maturity: | If final share price is less than trigger price, one Occidental share; otherwise, par
|
| Initial share price: | $100.40
|
| Trigger price: | $80.32, 80% of initial price
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46634X211
|
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