By Susanna Moon
Chicago, June 9 – JPMorgan Chase & Co. priced $990,000 of autocallable contingent interest notes due June 22, 2016 linked to ING Groep NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.1% if ING shares close at or above the trigger level, 80% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if ING shares close at or above the initial share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless ING stock finishes below the trigger level, in which case investors will receive par plus the return.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | ING Groep NV (Symbol: INGA NA)
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| Amount: | $990,000
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| Maturity: | June 22, 2016
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| Coupon: | 11.1% annualized per quarter that Apple shares close at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final contingent interest payment unless stock finishes below trigger level, in which case par plus the return
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| Call: | At par plus contingent coupon if ING shares close at or above initial level on any review date other than final review date
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| Initial level: | €14.615
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| Trigger level: | €11.692, 80% of initial share price
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| Pricing date: | June 5
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| Settlement date: | June 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48125UWN8
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