Published on 6/5/2012 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $565,000 8.5% six-month airbag yield notes on Starbucks
By Toni Weeks
San Diego, June 5 - JPMorgan Chase & Co. priced $565,000 of 8.5% annualized airbag yield optimization notes due Dec. 7, 2012 linked to Starbucks Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the Starbucks stock finishes below the 85% conversion level, in which case the payout will be a number of Starbucks shares equal to $1,000 divided by the conversion price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase & Co.
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Issue: | Airbag yield optimization notes
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Underlying stock: | Starbucks Corp. (Symbol: SBUX)
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Amount: | $565,000
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Maturity: | Dec. 7, 2012
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Coupon: | 8.5%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of Starbucks shares equal to $1,000 divided by conversion price; otherwise, par
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Initial share price: | $52.15
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Conversion price: | $44.33, 85% of initial share price
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Pricing date: | June 1
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Settlement date: | June 7
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 46637G496
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