New Issue: JPMorgan prices $1.25 million 10.75% upside autocallable reverse exchangeables on Tenet

By Susanna Moon

Chicago, Dec. 10 - JPMorgan Chase & Co. priced $1.25 million of 10.75% upside autocallable reverse exchangeable notes due Dec. 11, 2014 linked to Tenet Healthcare Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus accrued interest if Tenet stock closes at or above the initial share price on any of three quarterly call dates.

If the notes are not called, the payout at maturity will be par in cash, unless Tenet stock ever closes below the initial price by more than 25% and finishes below the initial share price, in which case investors will receive a number of Tenet shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Upside autocallable reverse exhangeable notes
Underlying stock:	Tenet Healthcare Corp. (Symbol: THC)
Amount:	$1,245,000
Maturity:	Dec. 11, 2014
Coupon:	10.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Tenet shares fall ever closes below buffer level during the life of the notes and finish below the initial price, in which case 23.4192 Tenet shares
Initial price:	$42.70
Buffer amount:	$10.675, 25% of initial share price
Call:	At par plus accrued interest if closing price is at or above initial price on March 6, 2014, June 6, 2014 and Sept. 8, 2014
Pricing date:	Dec. 6
Settlement date:	Dec. 11
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48126NG84

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