By Jennifer Chiou
New York, Aug. 2 - JPMorgan Chase & Co. priced $33,650,350 of contingent income autocallable securities due Aug. 5, 2014 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 2.5875%, equivalent to 10.35% per year, if Las Vegas Sands stock closes at or above the 75% downside threshold level on the determination date for that quarter.
If the shares close at or above the initial share price on any of the first three quarterly determination dates, the notes will be called at par plus the contingent coupon.
If the notes are not called and Las Vegas Sands stock finishes at or above the 75% trigger level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of Las Vegas Sands stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.
J.P. Morgan Securities. LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Las Vegas Sands Corp. (Symbol: LVS)
|
| Amount: | $33,650,350
|
| Maturity: | Aug. 5, 2014
|
| Contingent coupon: | 2.5875% (10.35% per year), payable quarterly if Las Vegas Sands stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus contingent payment; otherwise, 0.17995 Las Vegas Sands shares or, at issuer's option, cash amount equal to value of those shares
|
| Call: | At par plus contingent payment if closing share price is greater than or equal to initial share price on any of first three quarterly determination dates
|
| Initial share price: | $55.57
|
| Downside threshold level: | $41.6775, 75% of initial share price
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48124B121
|
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