By Susanna Moon
Chicago, Jan. 21 - JPMorgan Chase & Co. priced $4 million of 0% trigger autocallable optimization securities due Jan. 25, 2012 based on the performance of SanDisk Corp. shares, 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 34% if SanDisk shares close at or above the initial share price on any of 12 monthly observation dates.
The payout at maturity will be par if SanDisk stock finishes at or above the trigger price, 70% of the initial share price.
Otherwise, the payout will be par plus the stock return with exposure to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying stock: | SanDisk Corp. (Nasdaq: SNDK)
|
| Amount: | $4 million
|
| Maturity: | Jan. 25, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is 70% or more of initial share price, par; otherwise, par plus stock return with exposure to losses
|
| Call: | At par plus annualized call return of 34% if stock closes at or above initial share price on any of 12 monthly observation dates
|
| Initial share price: | $51.50
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| Trigger price: | $36.05, or 70% of initial price
|
| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
|
| Underwriter: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 46634X534
|
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