By Susanna Moon
Chicago, July 22 – JPMorgan Chase & Co. priced $900,000 autocallable contingent interest notes due July 16, 2015 linked to Lions Gate Entertainment Corp., according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if Lions Gate shares close at or above the barrier level, 75% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if Lions Gate shares close at or above the initial share price on any quarterly review date other than the final review date.
If the stock finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying shares: | Lions Gate Entertainment Corp. (Symbol: LGF)
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| Amount: | $900,000
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| Maturity: | July 16, 2015
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| Coupon: | 11.5% annualized for each quarter that Lions Gate stock closes at or above coupon barrier level on review date for that quarter
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| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless the stock falls below trigger level, in which case exposure to any losses
|
| Call: | At par plus contingent coupon if Lions Gate 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: | $24.045
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| Barrier level: | 75% of initial share price
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| Pricing date: | July 18
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| Settlement date: | July 23
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
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| Cusip: | 48127DTL2
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