By Toni Weeks
San Luis Obispo, Calif., April 9 - JPMorgan Chase & Co. priced $4 million of 10% autocallable single observation reverse exchangeable notes due Oct. 9, 2014 linked to the common stocks of Qualcomm Inc., Occidental Petroleum Corp. and Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be automatically called at par if each of the three underlying stocks closes at or above its strike price on July 5, Oct. 7 or Jan. 6, 2014.
The strike price for each underlying stock was set by the calculation agent and is not equal to that stock's closing share price on the pricing date.
If the notes are not automatically called, the payout at maturity will be par unless the final share price of any stock is less than 65% of its strike price, in which case the payout will be a cash amount equal to the product of (a) $1,000 divided by the strike price of the worst-performing stock and (b) the final share price of the worst-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable single observation reverse exchangeable notes
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| Underlying stocks: | Qualcomm Inc. (Nasdaq: QCOM), Occidental Petroleum Corp. (NYSE: OXY) and Caterpillar Inc. (NYSE: CAT)
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| Amount: | $4 million
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| Maturity: | Oct. 9, 2014
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| Coupon: | 10%, payable quarterly
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| Price: | Par
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| Payout at maturity: | If final price of any underlying stock has declined from strike price by more than buffer amount, cash amount equal to (a) $1,000 divided by the strike price of the worst-performing stock and (b) the final share price of the worst-performing stock; otherwise, par
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| Call: | Automatically called at par if all three stocks close at or above their strike prices on July 5, Oct. 7 or Jan. 6, 2014
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| Strike prices: | $64.85 for Qualcomm, $81.30 for Occidental and $84.80 for Caterpillar
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| Buffer amounts: | $22.6975 for Qualcomm, $28.455 for Occidental and $29.68 for Caterpillar; 35% of strike prices
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| Pricing date: | April 5
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| Settlement date: | April 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.1%
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| Cusip: | 48126DP29
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