By Susanna Moon
Chicago, May 21 - JPMorgan Chase & Co. priced $7.75 million of 8.1% airbag autocallable yield optimization notes due May 21, 2015 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par plus accrued interest if Las Vegas Sands stock closes at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Las Vegas Sands shares equal to $1,000 divided by the conversion price. The conversion price is 82.5% of the initial share price.
J.P. Morgan Securities LLC is the agent, and UBS Financial Services Inc. is the dealer.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Las Vegas Sands Corp. (Symbol: LVS)
|
| Amount: | $7,752,000
|
| Maturity: | May 21, 2015
|
| Coupon: | 8.1%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final price is less than conversion price, Las Vegas Sands shares equal to $1,000 divided by the conversion price; otherwise, par
|
| Call: | At par if Las Vegas Sands shares close at or above initial share price on any quarterly observation date
|
| Initial price: | $73.16
|
| Conversion price: | $60.36, 82.5% of initial price
|
| Pricing date: | May 16
|
| Settlement date: | May 21
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127E270
|
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