Published on 12/21/2010 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.47 million contingent coupon notes tied to 10 stocks
By Angela McDaniels
Tacoma, Wash., Dec. 21 - JPMorgan Chase & Co. priced $1.47 million of contingent coupon notes due Dec. 22, 2014 linked to a basket of 10 common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The equally weighted basket includes Altria Group, Inc., Amazon.com, Inc., AT&T Inc., Bristol-Myers Squibb Co., General Mills, Inc., Intel Corp., McDonald's Corp., Newmont Mining Corp., Wal-Mart Stores, Inc. and Wells Fargo & Co.
Interest is payable in December of each year and will equal the sum of the weighted returns of the basket stocks, subject to a floor of zero. The return of each stock will be subject to a floor of negative 20% and a cap of 9.6%.
The payout at maturity will be par.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Contingent coupon notes
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Underlying stocks: | Altria Group, Inc., Amazon.com, Inc., AT&T Inc., Bristol-Myers Squibb Co., General Mills, Inc., Intel Corp., McDonald's Corp., Newmont Mining Corp., Wal-Mart Stores, Inc. and Wells Fargo & Co.
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Amount: | $1,471,000
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Maturity: | Dec. 22, 2014
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Coupon: | Sum of weighted returns of basket stocks, subject to floor of zero; each stock's return subject to floor of negative 20% and cap of 9.6%; payable annually
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Dec. 17
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Settlement date: | Dec. 22
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.346%
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Cusip: | 48124A3W5
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