By Susanna Moon
Chicago, June 25 - JPMorgan Chase & Co. priced $4.7 million of autocallable contingent interest notes due July 9, 2014 linked to Schlumberger NV shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarter coupon at an annualized rate of 12.1% if Schlumberger shares close at or above the 80% barrier level on a quarterly review date for that interest period.
The notes will be called at par plus the contingent coupon if Schlumberger shares close at or above the initial share price on any quarterly call date.
The payout at maturity will be par plus the contingent coupon unless the final share price is less than the barrier level, in which case 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
|
| Underlying stock: | Schlumberger NV (NYSE: SLB)
|
| Amount: | $4,703,000
|
| Maturity: | July 9, 2014
|
| Coupon: | 12.1% annualized for each quarter that Schlumberger stock closes at or above barrier price on review date for that interest period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Schlumberger shares finish below barrier price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if Schlumberger shares close at or above initial share price on any quarterly date
|
| Initial share price: | $72.83
|
| Barrier price: | $58.264, 80% of initial share price
|
| Pricing date: | June 21
|
| Settlement date: | June 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126NFA0
|
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