By Susanna Moon
Chicago, Dec. 8 – JPMorgan Chase & Co. priced $2.1 million of 8.75% upside autocallable reverse exchangeable notes due June 9, 2016 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the stock closes at or above the initial share price on any quarterly call date.
If the notes are not called, the payout at maturity will be par unless Halliburton stock closes down by more than 40% buffer amount during the life of the notes and finishes below the initial share price, in which case the payout will be a number of shares of Halliburton equal to $1,000 divided by the initial price or the cash equivalent.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Upside autocallable reverse exchangeable notes
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| Underlying stock: | Halliburton Co. (Symbol: HAL)
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| Amount: | $2,099,000
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| Maturity: | June 9, 2016
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| Coupon: | 8.75%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless Halliburton stock closes below initial share price by more than 50% during life of notes and finishes below initial share price, in which case 24.5459 Halliburton shares
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| Call: | At par if closing share price is at or above initial share price on any quarterly call date
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| Initial share price: | $40.74
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| Buffer amount: | $16.296, 40% of initial share price
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48127D2U1
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