By Jennifer Chiou
New York, June 4 - JPMorgan Chase & Co. priced $725,000 of autocallable contingent interest notes due June 17, 2015 linked to Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If Bank of America shares close at or above the barrier price, 85% of the initial share price, on a quarterly review date, the notes will pay a coupon at an annual rate of 10.1% for that quarter.
The notes will be called at par plus the contingent coupon if Bank of America 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 barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of Bank of America shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Bank of America Corp. (Symbol: BAC)
|
| Amount: | $725,000
|
| Maturity: | June 17, 2015
|
| Coupon: | 10.1% per year, payable quarterly if Bank of America shares close at or above barrier price on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above barrier price, par plus contingent coupon; otherwise, Bank of America shares equal to $1,000 divided by the initial share price or, at issuer's option, cash equivalent
|
| Call: | At par plus contingent coupon if Bank of America shares close at or above initial share price on any quarterly review date other than final review date
|
| Initial price: | $15.14
|
| Barrier price: | $12.869, 85% of initial price
|
| Pricing date: | May 30
|
| Settlement date: | June 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48127DKH0
|
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