By Toni Weeks
San Luis Obispo, Calif., April 1 – JPMorgan Chase & Co. priced $8.02 million of contingent income autocallable securities due Oct. 1, 2015 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly payment of 2.25% if the index closes at or above the 75% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above the 95% redemption level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the index finishes below the 75% barrier level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying index: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $8,021,000
|
| Maturity: | Oct. 1, 2015
|
| Coupon: | 2.25%, payable monthly if index closes at or above barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless index finishes below barrier level, in which case full exposure to any losses
|
| Call: | At par plus coupon if index closes at or 95% redemption threshold on any review date other than final review date
|
| Initial level: | 251.6454
|
| Barrier level: | 188.73405, 75% of initial level
|
| Redemption threshold: | 239.06313, 95% of initial level
|
| Pricing date: | March 27
|
| Settlement date: | April 1
|
| Agent: | J.P. Morgan Securities LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.25%
|
| Cusip: | 48125UDH2
|
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