By Susanna Moon
Chicago, Aug. 7 - JPMorgan Chase & Co. priced $7.41 million of autocallable contingent interest notes due Aug. 21, 2013 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Halliburton shares close at or above the 75% trigger level on a quarterly review date, the notes will pay a coupon at an annualized rate of 16.65% for that quarter.
If the stock closes at or above the initial share price on any of the first three review dates, the notes will be called at par plus the contingent interest.
If the notes are not called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent interest.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Halliburton Co. (NYSE: HAL)
|
| Amount: | $7.41 million
|
| Maturity: | Aug. 21, 2013
|
| Coupon: | 16.65% annualized if shares close at or above interest barrier on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, full exposure to losses
|
| Call: | At par plus contingent interest payment if Halliburton stock closes at or above initial share price on Nov. 15, Feb. 14, 2013 and May 16, 2013
|
| Initial share price: | $33.76
|
| Trigger level: | $25.32, or 75% of initial share price
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| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 8
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VZ45
|
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