By Toni Weeks
San Luis Obispo, Calif., March 25 - JPMorgan Chase & Co. priced $890,000 of autocallable contingent interest notes due April 8, 2015 linked to the common stock of Endo Health Solutions Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at an annual rate 13% if Endo shares close at or above the trigger level, 65% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if Endo shares close at or above the initial share price on any quarterly review date other than the final review date.
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 contingent coupon. Otherwise, investors will be fully exposed to the stock's decline.
The final stock price will be the average of the closing share prices on five trading days ending April 2, 2015.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Endo Health Solutions Inc. (Symbol: ENDP)
|
| Amount: | $890,000
|
| Maturity: | April 8, 2015
|
| Coupon: | 13% per year, payable quarterly if Endo shares close at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Endo shares finish below trigger level, in which case investors share fully in losses
|
| Call: | Automatically at par plus contingent coupon if Endo shares close at or above initial share price on July 3, Oct. 2, 2014 or Jan. 2, 2015
|
| Initial share price: | $71.50
|
| Final share price: | Average of closing share prices on five trading days ending April 2, 2015
|
| Trigger level: | $46.475, 65% of initial share price
|
| Pricing date: | March 21
|
| Settlement date: | March 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48127DCB2
|
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