Published on 2/12/2014 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $512,000 13% upside autocallable reverse exchangeables linked to Green Mountain
By Angela McDaniels
Tacoma, Wash., Feb. 12 - JPMorgan Chase & Co. priced $512,000 of 13% upside autocallable reverse exchangeable notes due Feb. 13, 2015 linked to the common stock of Green Mountain Coffee Roasters, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically called at par if Green Mountain stock closes at or above the initial share price on May 8, 2014, Aug. 8, 2014 or Nov. 7, 2014.
The payout at maturity will be par unless Green Mountain shares decline by more than 35% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Green Mountain shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable reverse exchangeable notes
|
| Underlying stock: | Green Mountain Coffee Roasters, Inc. (Symbol: GMCR)
|
| Amount: | $512,000
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| Maturity: | Feb. 13, 2015
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| Coupon: | 13%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless Green Mountain shares decline by more than buffer amount during life of notes and final share price is less than initial share price, in which case 9.0155 Green Mountain shares or, at issuer's option, equivalent amount in cash
|
| Call: | Automatically at par if Green Mountain stock closes at or above initial share price on May 8, 2014, Aug. 8, 2014 or Nov. 7, 2014
|
| Initial share price: | $110.92
|
| Buffer amount: | $38.822, 35% of initial price
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 13
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48126N2S5
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