By Marisa Wong
Madison, Wis., Feb. 21 - JPMorgan Chase & Co. priced $3.85 million of 8% upside autocallable single observation reverse exchangeable notes due Feb. 21, 2014 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 payout at maturity will be par unless the final share price is less than the initial share price by more than 30%, 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
|
| Underlying stock: | Joy Global Inc. (Symbol: JOY)
|
| Amount: | $3.85 million
|
| Maturity: | Feb. 21, 2014
|
| Coupon: | 8%, 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 15.7381 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 May 17, Aug. 19 or Nov. 19, 2013
|
| Initial price: | $63.54
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| Protection amount: | $19.062, 30% of initial price
|
| Pricing date: | Feb. 19
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| Settlement date: | Feb. 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.334%, including 2.934% for selling concessions
|
| Cusip: | 48126DXE4
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