Published on 2/16/2010 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $9.91 million 10.25% yield optimization notes on Goldman Sachs via UBS
By Susanna Moon
Chicago, Feb. 16 - JPMorgan Chase & Co. priced $9.91 million of 10.25% annualized yield optimization notes with contingent protection due Aug. 17, 2010 based on the common stock of Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $154.05, which was the closing price of Goldman Sachs stock at pricing.
Interest is payable monthly.
If the final share price of Goldman Sachs stock is greater than or equal to 80% of the initial price, the payout at maturity will be par. Otherwise, the payout will be one Goldman Sachs share per note.
UBS Financial Services Inc. and J.P. Morgan Securities Inc. are the agents.
Issuer: | JPMorgan Chase & Co.
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Goldman Sachs Group, Inc. (NYSE: GS)
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Amount: | $9,909,882.45
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Maturity: | Aug. 17, 2010
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Coupon: | 10.25%, payable monthly
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Price: | Par of $154.05
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Payout at maturity: | If Goldman Sachs shares finish below trigger price, one Goldman Sachs share; otherwise, par
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Initial share price: | $154.05
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Trigger price: | $123.24, 80% of initial price
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Pricing date: | Feb. 11
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Settlement date: | Feb. 17
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities Inc.
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Fees: | 1%
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Cusip: | 46634E635
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