By Angela McDaniels
Tacoma, Wash., Oct. 20 - JPMorgan Chase & Co. priced $8.35 million of 9.8% yield optimization notes with contingent protection due Oct. 20, 2011 linked to the common stock of Bank of New York Mellon Corp., according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the agents.
Each note priced at par of $27.24, which is equal to the closing price of Bank of New York Mellon stock on the pricing date.
Interest is payable monthly.
If the final share price of Bank of New York Mellon stock is greater than or equal to 70% of the initial price, the payout at maturity will be par. Otherwise, the payout will be a cash amount equal to the final share price.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Yield optimization notes with contingent protection
|
Underlying stock: | Bank of New York Mellon Corp. (NYSE: BK)
|
Amount: | $8,345,301
|
Maturity: | Oct. 20, 2011
|
Coupon: | 9.8%, payable monthly
|
Price: | Par of $27.24
|
Payout at maturity: | If Bank of New York Mellon shares finish below trigger price, cash amount equal to final share price; otherwise, par
|
Initial share price: | $27.24
|
Trigger price: | $19.068, 70% of initial price
|
Pricing date: | Oct. 16
|
Settlement date: | Oct. 21
|
Agents: | UBS Financial Services Inc. and J.P. Morgan Securities Inc.
|
Fees: | 2.75%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.