By Jennifer Chiou
New York, May 13 - JPMorgan Chase & Co. priced $12,985,050 of contingent income autocallable securities due May 14, 2015 linked to Hewlett-Packard Co. stock, according to an FWP filing with the Securities and Exchange Commission.
If HP stock closes at or above the 80% trigger level on a quarterly determination date, the notes will pay a contingent payment of 2.8375% for that quarter.
If HP stock closes at or above the initial level on any quarterly determination date, the notes will be redeemed at par plus the contingent payment.
If the HP stock finishes at or above the 80% trigger level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will receive a number of shares equal to $10 divided by the initial stock price.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Hewlett-Packard Co. (NYSE: HPQ)
|
| Amount: | $12,985,050
|
| Maturity: | May 14, 2015
|
| Contingent payment: | 2.8375% per quarter if HP stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if HP stock finishes at or above trigger level; otherwise, 0.30902 HP shares
|
| Call: | At par plus contingent payment if HP stock closes at or above initial level on any determination date
|
| Initial share price: | $32.36
|
| Trigger level: | $25.888, 80% of initial price
|
| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Agents: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127F459
|
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