By Toni Weeks
San Luis Obispo, Calif., July 15 – JPMorgan Chase & Co. priced $2.87 million of 0% contingent absolute return autocallable optimization securities due July 20, 2015 linked to Sprouts Farmers Market, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 14.85% if Sprouts stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is at or above the 75% trigger level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent absolute return autocallable optimization securities
|
| Underlying stock: | Sprouts Farmers Market, Inc. (Symbol: SFM)
|
| Amount: | $2,874,670
|
| Maturity: | July 20, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
|
| Call: | At par plus 14.85% per year if Sprouts stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $31.39
|
| Trigger price: | $23.54, 75% of initial share price
|
| Pricing date: | July 11
|
| Settlement date: | July 16
|
| Underwriters: | J.P. Morgan Securities LLC and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 481246726
|
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