New York, April 21 – JPMorgan Chase & Co. priced $6,959,280 of contingent income autocallable securities due April 21, 2016 linked to Freeport-McMoRan Copper & Gold Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Freeport-McMoRan stock closes at or above the downside threshold level of $12.402 on a quarterly determination date, the notes will pay a contingent payment of 2.625% for that quarter.
If Freeport-McMoRan stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the Freeport-McMoRan stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Freeport-McMoRan Copper & Gold Inc.
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| Amount: | $6,959,280
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| Maturity: | April 21, 2016
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| Contingent payment: | 2.625% for quarter if Freeport-McMoRan stock closes at or above downside threshold level on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if Freeport-McMoRan stock finishes at or above downside threshold; otherwise full exposure to any losses
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| Call: | At par plus contingent payment if Freeport-McMoRan stock closes at or above initial share price on any determination date
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| Initial share price: | $20.67
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| Trigger level: | $12.402, 60% of initial price
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agents: | J.P. Morgan Securities LLC
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| Fees: | 1.25%
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| Cusip: | 48127T491
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