By Toni Weeks
San Diego, Oct. 26 - JPMorgan Chase & Co. priced $3.9 million of 10% upside autocallable single observation reverse exchangeable notes due Oct. 29, 2013 linked to the common stock of Joy Global Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par plus accrued interest if Joy Global stock closes at or above the initial share price on any of three quarterly call dates. The call dates are Jan. 24, April 24 and July 24, 2013.
The payout at maturity will be par unless the final share price is less than the initial share price by more than 40%, in which case the payout will be a number of Joy Global shares equal to $1,000 divided by the initial share price or, at JPMorgan's option, a cash amount equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Upside autocallable single observation reverse exchangeable notes
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| Underlying stock: | Joy Global Inc. (Symbol: JOY)
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| Amount: | $3.9 million
|
| Maturity: | Oct. 29, 2013
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than initial price by more than protection amount, in which case 16.7392 Joy Global shares or, at JPMorgan's option, a cash amount equal to the value of those shares
|
| Call: | Automatically at par plus accrued interest if Joy Global stock closes at or above the initial share price on any of three call dates: Jan. 24, April 24 and July 24, 2013
|
| Initial price: | $59.74
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| Protection amount: | $23.896, 40% of initial price
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 29
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.623%, including 2.938% for selling concessions
|
| Cusip: | 48126DBP3
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