By Toni Weeks
San Luis Obispo, Calif., Feb. 20 - JPMorgan Chase & Co. priced $205,000 of autocallable contingent interest notes due March. 5, 2014 linked to Valeant Pharmaceuticals International, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Valeant shares close at or above the 75% trigger level on a quarterly review date, the notes will pay a coupon that quarter at an annualized rate of 19.6%.
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 losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Valeant Pharmaceuticals International, Inc. (NYSE: VRX)
|
| Amount: | $205,000
|
| Maturity: | March 5, 2014
|
| Coupon: | 19.6% per year, payable quarterly if closing price of Valeant stock is equal to or greater than barrier price; otherwise, no coupon for that interest period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Valeant shares finish below barrier price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if closing share price on May 30, Aug. 29, 2013 or Dec. 5, 2013 is greater than or equal to initial share price
|
| Initial share price: | $66.53
|
| Barrier price: | $49.8975, 75% of initial share price
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 21
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DXC8
|
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