By Angela McDaniels
Tacoma, Wash., Dec. 30 - JPMorgan Chase & Co. priced $1.44 million of contingent income autocallable securities due Dec. 26, 2014 linked to the class A common stock CME Group Inc., according to an amended FWP filing with the Securities and Exchange Commission.
On Dec. 24, the issuer reported pricing $1.42 million of the notes.
If CME stock closes at or above the downside threshold level, 80% of the initial share price, on a quarterly determination date, the notes will pay a 2.925% contingent payment that quarter. The amount is equivalent to 11.7% per year.
If the shares close at or above the initial share price on any of the first three quarterly determination dates, the notes will be called at par of $10 plus the contingent payment.
If the notes are not called and CME stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent payment. Otherwise, investors will receive a number of shares of CME stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.
J.P. Morgan Stanley Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | CME Group Inc. (Symbol: CME)
|
| Amount: | $1,439,400, increased from $1,419,400
|
| Maturity: | Dec. 26, 2014
|
| Coupon: | 2.925% per quarter if closing price is greater than or equal to downside threshold level on quarterly determination date; otherwise, none
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to downside threshold level, par plus contingent quarterly payment; otherwise, 0.11935 shares of CME stock or, at issuer's option, equivalent cash value
|
| Call: | At par plus contingent payment if closing share price is greater than or equal to initial share price on any of first three quarterly determination dates
|
| Initial share price: | $83.79
|
| Downside threshold level: | $67.032, or 80% of initial share price
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Agent: | J.P. Morgan Stanley Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127A526
|
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