By Susanna Moon
Chicago, July 1 – JPMorgan Chase & Co. priced $500,000 autocallable contingent interest notes due July 9, 2015 linked to lululemon athletica inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.7% if lululemon shares close at or above the trigger level, 70% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if lululemon shares close at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying shares: | lululemon athletica inc. (Symbol: LULU)
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| Amount: | $500,000
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| Maturity: | July 9, 2015
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| Coupon: | 13.7% annualized for each quarter that lululemon stock closes at or above barrier price on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless lululemon shares finish below barrier price, in which case full exposure to any losses
|
| Call: | At par plus contingent coupon if lululemon shares close at or above initial share price on any quarterly review date other than final review date
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| Initial share price: | $40.42
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| Barrier price: | $28.294, or 70% of initial share price
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| Pricing date: | June 27
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| Settlement date: | July 2
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48127DRC4
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