By Toni Weeks
San Diego, May 15 - JPMorgan Chase & Co. priced $4.68 million of autocallable contingent interest notes due May 30, 2013 linked to the common stock of Citigroup Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock closes at or above the 70% interest barrier on any review date, the notes will pay a coupon that quarter at an annualized rate of 18.15%. Otherwise, no coupon will be paid for that quarter.
If the stock closes at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the stock finishes at or above the trigger level - 70% of the initial stock price - the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Citigroup Inc. (Symbol: C)
|
| Amount: | $4.68 million
|
| Maturity: | May 30, 2013
|
| Coupon: | 18.15% annualized if shares close at or above interest barrier on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If final share price is at or above trigger level, par plus contingent quarterly coupon; otherwise, full exposure to losses
|
| Call: | At par plus contingent interest payment if Citigroup stock closes at or above initial share price on Aug. 23, Nov. 20 or Feb. 21, 2013
|
| Initial share price: | $29.35
|
| Interest barrier/trigger level: | $20.545, 70% of initial share price
|
| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125VYC8
|
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