By Marisa Wong
Madison, Wis., July 26 - JPMorgan Chase & Co. priced $6.73 million of 8.64% trigger yield optimization notes due July 27, 2012 linked to the common stock of Chesapeake Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The face amount of each note is equal to the initial price of Chesapeake stock.
The payout at maturity will be par unless the final price of Chesapeake stock is less than 75% of the initial share price, in which case investors will receive one Chesapeake share per note.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger yield optimization notes
|
| Underlying stock: | Chesapeake Energy Corp. (NYSE: CHK)
|
| Amount: | $6,732,392.74
|
| Maturity: | July 27, 2012
|
| Coupon: | 8.64%, payable monthly
|
| Price: | Par of $34.39
|
| Payout at maturity: | If final share price is less than trigger price, one Chesapeake share; otherwise, par
|
| Initial share price: | $34.39
|
| Trigger price: | $25.79, 75% of initial price
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46636T309
|
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