By Susanna Moon
Chicago, June 25 - JPMorgan Chase & Co. priced $416,000 of autocallable contingent interest notes due July 9, 2014 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarter coupon at an annualized rate of 13.3% if Bank of America shares close at or above the 80% barrier level on a quarterly review date for that interest period.
The notes will be called at par plus the contingent coupon if Bank of America shares close at or above the initial share price on any quarterly call date.
The payout at maturity will be par plus the contingent coupon unless the final share price is less than the barrier level, in which case 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: | Bank of America Corp. (NYSE: BAC)
|
| Amount: | $416,000
|
| Maturity: | July 9, 2014
|
| Coupon: | 13.3% annualized for each quarter that Bank of America stock closes at or above barrier price on review date for that interest period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Bank of America shares finish below barrier price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if Bank of America shares close at or above initial share price on any quarterly date
|
| Initial share price: | $12.69
|
| Barrier price: | $10.152, 80% of initial share price
|
| Pricing date: | June 21
|
| Settlement date: | June 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126NFC6
|
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