By Susanna Moon
Chicago, March 20 - JPMorgan Chase & Co. priced $1.3 million of autocallable contingent interest notes due April 2, 2014 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Bank of America shares close at or above the 75% trigger level on a quarterly review date, the notes will pay a coupon that quarter at an annualized rate of 11.76%.
If the shares close at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Bank of America Corp. (NYSE: BAC)
|
| Amount: | $1.3 million
|
| Maturity: | April 2, 2014
|
| Coupon: | 11.76% per year, payable quarterly if Bank of America stock at or above trigger price that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Bank of America shares finish below trigger price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if closing share price is at or above initial share price on any review date other than final review date
|
| Initial share price: | $12.57
|
| Trigger price: | $9.4275, 75% of initial share price
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DC80
|
© 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.
