By Angela McDaniels
Tacoma, Wash., Nov. 26 - JPMorgan Chase & Co. priced $1.05 million of autocallable contingent interest notes due Dec. 10, 2014 linked to the common stock of Gilead Sciences Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Gilead Sciences shares close at or above the trigger level, 75% of the initial share price, on a quarterly review date, the notes will pay a coupon at an annual rate of 12.5% for that quarter.
If the shares close at or above the initial share price 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 stock 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.
The final share price will be the average of the closing prices on the five trading days ending Dec. 5, 2014.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Gilead Sciences Inc. (Symbol: GILD)
|
| Amount: | $1,046,000
|
| Maturity: | Dec. 10, 2014
|
| Coupon: | 3.125% (equivalent to 12.5% per year) payable quarterly if Gilead Sciences shares close at or above barrier price on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Gilead Sciences shares finish below barrier price, in which case investors share fully in losses
|
| Call: | Automatically at par plus contingent coupon if Gilead Sciences shares close at or above initial share price on March 6, 2014, June 5, 2014 or Sept. 4, 2014
|
| Initial share price: | $74.27
|
| Barrier price: | $55.7025, 75% of initial share price
|
| Final share price: | Average of closing prices on five trading days ending Dec. 5, 2014
|
| Pricing date: | Nov. 22
|
| Settlement date: | Nov. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126NF77
|
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