By Susanna Moon
Chicago, Jan. 29 - JPMorgan Chase & Co. priced $3.87 million of autocallable contingent interest notes due Feb. 12, 2014 linked to Apple Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Apple shares close at or above the 80% barrier level on any quarterly review date other than the final review date, the notes will pay a coupon at an annualized rate of 13.7% for that quarter.
If Apple shares close at or above the initial share price on any of the first three quarterly review dates, the notes will be called at par plus the coupon.
If the notes have not been called, the payout at maturity will be par plus the coupon unless the stock finishes below the barrier level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $3,873,000
|
| Maturity: | Feb. 12, 2014
|
| Coupon: | 13.7% annualized if the closing price of Apple shares is at or above barrier price for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Apple shares finish below barrier price, in which case investors share in losses
|
| Call: | At par plus contingent coupon if stocks closes above initial price on any review date other than the final review date
|
| Initial share price: | $439.88
|
| Barrier price: | $351.904, 80% of initial share price
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DUX5
|
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