By Susanna Moon
Chicago, April 14 – JPMorgan Chase & Co. priced $3.12 million of autocallable contingent interest notes due April 27, 2016 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the shares close at or above the 80% trigger level on a quarterly review date, the notes will pay a coupon at an annualized rate of 13.25% for that quarter.
If the shares close 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, 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Facebook, Inc. (Nasdaq: FB)
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| Amount: | $3,123,000
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| Maturity: | April 27, 2016
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| Coupon: | 13.25% per year, payable quarterly if stock at or above trigger price that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless shares finish below trigger price, in which case investors share fully in losses
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| Call: | At par plus contingent coupon if closing share price is at or above initial share price on any review date other than final review date
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| Initial level: | $82.04
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| Barrier level: | $65.632, 80% of initial level
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| Pricing date: | April 10
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| Settlement date: | April 15
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| Agent: | J.P. Morgan Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1%
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| Cusip: | 48125UMZ2
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