By Jennifer Chiou
New York, Oct. 2 – JPMorgan Chase & Co. priced $1,182,390 of trigger phoenix autocallable optimization securities due March 31, 2016 linked to the common stock of HomeAway, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If HomeAway stock closes at or above the trigger price – 75% of the initial share price – on a quarterly observation date, the issuer will pay a contingent coupon for that period at the rate of 14.25%. Otherwise, no coupon will be paid that quarter.
If the shares close at or above the initial price on a quarterly observation date, the notes will be called at par plus the contingent coupon.
If the notes are not called and HomeAway shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | HomeAway, Inc. (Symbol: AWAY)
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| Amount: | $1,182,390
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| Maturity: | March 31, 2016
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| Coupon: | 14.25%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if HomeAway shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if HomeAway shares close at or above initial price on a quarterly observation date
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| Initial share price: | $33.66
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| Trigger price: | $25.25, 75% of initial price
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 30
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| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 481246163
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