By Marisa Wong
Madison, Wis., March 25 - JPMorgan Chase & Co. priced $13.99 million of 0% contingent absolute return autocallable optimization securities due March 30, 2015 linked to the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 14.5% if General Motors stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 80% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent absolute return autocallable optimization securities
|
| Underlying stock: | General Motors Co. (Symbol: GM)
|
| Amount: | $13,992,000
|
| Maturity: | March 30, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, investors will be fully exposed to stock decline
|
| Call: | At par plus 14.5% per year if General Motors stock closes at or above initial share price on any quarterly observation date
|
| Initial price: | $35.01
|
| Trigger price: | $28.01, 80% of initial price
|
| Pricing date: | March 21
|
| Settlement date: | March 26
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127E452
|
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