By Marisa Wong
Madison, Wis., Feb. 28 - JPMorgan Chase & Co. priced $4.36 million of 0% trigger autocallable optimization securities due March 5, 2014 linked to the SPDR S&P Homebuilders exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the closing share price is equal to or greater than the initial price on any quarterly observation date, the notes will be called at par plus an annualized call return of 10%.
If the notes are not called and the final price is greater than or equal to 80% of the initial price, the payout at maturity will be par. Otherwise, investors will share fully in losses.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable optimization securities
|
| Underlying ETF: | SPDR S&P Homebuilders ETF
|
| Amount: | $4.36 million
|
| Maturity: | March 5, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final price is at or above trigger level, par; otherwise, exposure to losses
|
| Call option: | Par plus 10% per year if price closes at or above the initial share price on any quarterly observation date
|
| Initial price: | $26.97
|
| Trigger level: | $21.58, 80% of initial price
|
| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agents: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 48124B667
|
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