By Marisa Wong
Madison, Wis., March 11 - JPMorgan Chase & Co. priced $975,000 of autocallable contingent interest notes due March 25, 2015 linked to the American Depositary Shares of AngloGold Ashanti Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If AngloGold Ashanti shares close at or above the trigger level, 65% of the initial share price, on a quarterly review date, the notes will pay a coupon at an annual rate of 15.75% for that quarter.
The notes will be called at par plus the contingent coupon if AngloGold Ashanti shares close at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the stock's decline.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying ADSs: | AngloGold Ashanti Ltd. (Symbol: AU)
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Amount: | $975,000
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Maturity: | March 25, 2015
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Coupon: | 15.75% per year, payable quarterly if AngloGold Ashanti shares close at or above barrier price on quarterly review date
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Price: | Par
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Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, investors will be fully exposed to stock's decline
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Call: | At par plus contingent coupon if AngloGold Ashanti shares close at or above initial share price on any quarterly review date other than final review date
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Initial share price: | $18.62
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Barrier/trigger price: | $12.103, 65% of initial price
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Pricing date: | March 7
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Settlement date: | March 12
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Underwriter: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48127DAS7
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