By Marisa Wong
Madison, Wis., Oct. 15 - JPMorgan Chase & Co. priced $1.39 million of autocallable contingent interest notes due Oct. 29, 2014 linked to USG Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If USG shares close at or above the trigger level, 65% of the initial share price, on a quarterly review date, the notes will pay a coupon at an annual rate of 16% for that quarter.
If the shares close at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, 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: | USG Corp. (Symbol: USG)
|
| Amount: | $1,389,000
|
| Maturity: | Oct. 29, 2014
|
| Coupon: | 16%, payable quarterly if USG shares close at or above trigger level on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above trigger level, par plus coupon; otherwise, full exposure to any losses
|
| Call: | At par plus coupon if shares close at or above initial share price on any review date other than final review date
|
| Initial price: | $28.25
|
| Trigger price: | $18.3625, 65% of initial price
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126NXF9
|
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