By Susanna Moon
Chicago, Oct. 22 - JPMorgan Chase & Co. priced $3.72 million of 10.5% airbag autocallable yield optimization notes due Oct. 24, 2014 linked to Sandridge Energy Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Sandridge Energy shares close 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 Sandridge Energy shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying shares: | Sandridge Energy Inc. (Symbol: SD)
|
| Amount: | $3,716,000
|
| Maturity: | Oct. 24, 2014
|
| Coupon: | 10.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of Sandridge Energy shares equal to $1,000 divided by conversion price; otherwise, par
|
| Call: | At par if Sandridge Energy shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $6.90
|
| Conversion price: | $5.52, 80% of initial share price
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 23
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48126H134
|
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