By Jennifer Chiou
New York, Jan. 31 - JPMorgan Chase & Co. priced $9.88 million of 7% annualized trigger yield optimization notes due July 29, 2011 linked to the American depositary shares of Tata Motors Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face amount of $26.30, which is equal to the initial ADS price.
Interest is payable monthly.
The payout at maturity will be par unless the final price is less than 75% of the initial price, in which case the payout will be one Tata Motors ADS per note.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger yield optimization notes
|
| Underlying ADS: | Tata Motors Ltd. (Symbol: TTM)
|
| Amount: | $9,877,885.50
|
| Maturity: | July 29, 2011
|
| Coupon: | 7%, payable monthly
|
| Price: | Par of $26.30
|
| Payout at maturity: | If final price is less than trigger price, one Tata Motors ADS; otherwise, par
|
| Initial price: | $26.30
|
| Trigger price: | $19.73, 75% of initial price
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 31
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 46634X476
|
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