By Susanna Moon
Chicago, April 9 - JPMorgan Chase Inc. priced $3.12 million of autocallable contingent interest notes due April 24, 2013 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If General Electric shares close at or above the 80% trigger level on a quarterly review date, the notes will pay a coupon at an annualized rate of 10.9% for that quarter.
If General Electric shares close at or above the initial share price on any of the review dates other than the final review date, the notes will be called at par plus the contingent quarterly coupon.
If the notes have not been called and the stock finishes the trigger level, the payout at maturity will be par plus the contingent quarterly coupon.
Otherwise, investors will be fully exposed to any losses from the initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Inc.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | General Electric Co. (NYSE: GE)
|
| Amount: | $3,115,000
|
| Maturity: | April 24, 2013
|
| Coupon: | 10.9% annualized if shares close at or above trigger level on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If final share price is at or above trigger level, par plus contingent quarterly coupon; otherwise, full exposure to any losses
|
| Call: | At par plus 17% annualized if General Electric shares close at or above initial share price on July 19, Oct. 19, 2012 or Jan. 22, 2013
|
| Initial share price: | $19.49
|
| Trigger level: | $15.592, 80% of initial share price
|
| Pricing date: | April 5
|
| Settlement date: | April 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VTV2
|
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