By Marisa Wong
Madison, Wis., May 30 - JPMorgan Chase & Co. priced $1.72 million of 8.65% airbag autocallable yield optimization notes due May 29, 2015 linked to the ordinary shares of Jazz Pharmaceuticals plc, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if Jazz shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Jazz shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase & Co.
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Jazz Pharmaceuticals plc (Symbol: JAZZ)
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Amount: | $1,724,000
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Maturity: | May 29, 2015
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Coupon: | 8.65%, payable monthly
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Price: | Par
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Payout at maturity: | If final price is less than conversion price, Jazz shares equal to $1,000 divided by the conversion price; otherwise, par
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Call: | At par if Jazz shares close at or above initial share price on any quarterly observation date
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Initial price: | $141.85
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Conversion price: | $113.84, 80% of initial price
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Pricing date: | May 28
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Settlement date: | May 30
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Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48127F350
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