By Susanna Moon
Chicago, Aug. 19 – JPMorgan Chase & Co. priced $1.38 million autocallable contingent interest notes due Sept. 2, 2015 linked to Gilead Sciences, Inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17% if Gilead shares close at or above the barrier level, 80% of the initial share price, on the review date for that month.
The notes will be called at par plus the contingent coupon if Gilead shares close at or above the initial share price on any quarterly review date other than the final review date.
If the stock finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying shares: | Gilead Sciences, Inc. (Symbol: GILD)
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| Amount: | $1.38 million
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| Maturity: | Sept. 2, 2015
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| Coupon: | 17% annualized for each month that Gilead stock closes at or above coupon barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless the stock falls below trigger level, in which case exposure to any losses
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| Call: | At par plus contingent coupon if Gilead shares close at or above initial share price on any quarterly review date other than final review date
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| Initial share price: | $99.49
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| Barrier level: | $79.59, 80% of initial share price
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48127DWZ7
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