By Jennifer Chiou
New York, Feb. 14 - JPMorgan Chase & Co. priced $2 million of 0% capped autocallable return enhanced notes due March 4, 2015 linked to Bank of America Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the call level - 102.75% of the initial price - on any of three quarterly call dates, the notes will be called at par plus an annualized call premium of 8.25%.
If the notes are not called and the stock finishes above the initial price, the payout at maturity will be par plus three times any gain, subject to a maximum return of 8.25%. Investors will be fully exposed to any decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Capped autocallable return enhanced notes
|
| Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
| Amount: | $2 million
|
| Maturity: | March 4, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock finishes above initial level, par plus three times any gain, capped at 8.25%; full exposure to any decline
|
| Call: | At par plus annualized call premium of 8.25% if stock closes at or above 102.75% of initial level on any of three quarterly call dates
|
| Initial price: | $16.88
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126N4E4
|
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