By Marisa Wong
Madison, Wis., April 26 - JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due May 14, 2014 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the 80% trigger level on a quarterly review date, the notes will pay a coupon at an annualized rate of 8% for that quarter.
If the index closes at or above the initial level on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the index finishes at or above the trigger level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $1 million
|
| Maturity: | May 14, 2014
|
| Coupon: | 8% per year, payable quarterly if index closes at or above trigger price that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless index finishes below trigger price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if closing level is at or above initial level on any review date other than final review date
|
| Initial level: | 2,702.05
|
| Trigger level: | 2,161.64, 80% of initial level
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126D2S7
|
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