By Jennifer Chiou
New York, Feb. 19 - JPMorgan Chase & Co. priced $1,331,600 of trigger phoenix autocallable optimization securities due Aug. 20, 2015 linked to Citrix Systems Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Citrix Systems stock closes at or above the trigger price - 75% of the initial share price - on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the annualized rate of 13%. Otherwise, no coupon will be paid that quarter.
After one year, if the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Citrix Systems shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
J.P. Morgan Securities LLC is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Citrix Systems Inc. (Symbol: CTXS)
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| Amount: | $1,331,600
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| Maturity: | Aug. 20, 2015
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| Coupon: | 13%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Citrix Systems shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Citrix Systems shares close at or above initial price on a quarterly observation date
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| Initial share price: | $57.14
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| Trigger price: | $42.86, 75% of initial price
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Underwriter: | J.P. Morgan Securities LLC with UBS Financial Services Inc.
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| Fees: | 1.5%
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| Cusip: | 48127E775
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