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Published on 10/14/2014 in the Prospect News Structured Products Daily.

New Issue: JPMorgan prices $1.01 million 8.5% reverse exchangeables linked to Twitter

New York, Oct. 14 - JPMorgan Chase & Co. priced $1.014 million of 8.5% reverse exchangeable notes due Oct. 16, 2015 linked to Twitter, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Twitter shares fall below the protection price of $33.174, 60% of the initial price of $55.29, during the life of the notes and finish below the initial price in which case the payout will be 18.0865 shares of Twitter stock.

JPMorgan is the agent.

Issuer:JPMorgan Chase & Co.
Issue:Reverse exchangeable notes
Underlying stock:Twitter, Inc. (Symbol: TWTR)
Amount:$1.014 million
Maturity:Oct. 16, 2015
Coupon:8.5%, payable monthly
Price:Par
Payout at maturity:Par in cash unless Twitter shares fall below the protection price of $33.174, 60% of the initial price, and finish below the initial price, in which case 18.0865 shares of Twitter stock
Initial price:$55.29
Protection price:$33.174, 60% of $55.29
Exchange ratio:18.0865
Pricing date:Oct. 9
Settlement date:Oct. 15
Agent:JPMorgan
Fees:2.6%
Cusip:48127DE20

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