By Angela McDaniels
Tacoma, Wash., May 29 – JPMorgan Chase & Co. priced $10.05 million of 8.25% airbag autocallable yield optimization notes due May 31, 2016 linked to the common stock of United States Steel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if U.S. Steel shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of U.S. Steel shares equal to $1,000 divided by the conversion price. The conversion price is 72.25% of the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | United States Steel Corp. (Symbol: X)
|
| Amount: | $10.05 million
|
| Maturity: | May 31, 2016
|
| Coupon: | 8.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than conversion price, in which case number of U.S. Steel shares equal to $1,000 divided by conversion price
|
| Call: | Automatically at par if U.S. Steel shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $24.64
|
| Conversion price: | $17.80, 72.25% of initial share price
|
| Pricing date: | May 27
|
| Settlement date: | May 29
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127X740
|
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