By Marisa Wong
Madison, Wis., May 13 - JPMorgan Chase & Co. priced $4.24 million of autocallable contingent interest notes due May 14, 2015 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the fund closes at or above the trigger level, 70% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the fund closes 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 fund 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 any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | Market Vectors Gold Miners ETF
|
| Amount: | $4,239,000
|
| Maturity: | May 14, 2015
|
| Coupon: | 8%, payable if fund closes at or above trigger level on quarterly review date
|
| Price: | Par of $1,000
|
| Payout at maturity: | If fund finishes at or above trigger level, par plus contingent coupon; otherwise, investors will be fully exposed to any losses
|
| Call: | At par plus contingent coupon if fund closes at or above initial share price on any quarterly review date other than final review date
|
| Initial share price: | $23.72
|
| Trigger price: | $16.604, 70% of initial share price
|
| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127DFY9
|
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