By Susanna Moon
Chicago, Oct. 26 - JPMorgan Chase & Co. priced $3.05 million of 0% quarterly review notes due April 29, 2013 linked to the Brent crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a 6.85% annualized call premium if the price of Brent crude oil closes at or above the initial level on any review date.
If the notes are not called, the payout at maturity will be par if the final level is at least 85% of the initial level.
Otherwise, investors will be fully exposed to any losses if the price of crude oil falls below the 85% barrier level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Quarterly review notes
|
| Underlying asset: | Brent crude oil futures contract
|
| Amount: | $3.05 million
|
| Maturity: | April 29, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final level is at least 85% of initial level; full exposure to any losses if price drops below barrier level
|
| Call: | At par plus 6.85% per year if Brent crude oil closes at or above initial level on any review date
|
| Initial level: | $107.85
|
| Barrier level: | 85% of initial price
|
| Pricing date: | Oct. 24
|
| Settlement date: | Oct. 29
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48126DCA5
|
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