By Susanna Moon
Chicago, Aug. 27 - JPMorgan Chase & Co. priced $3.57 million of autocallable contingent interest notes due Sept. 10, 2014 linked to Ford Motor Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarter coupon at an annual rate of 12.9% if Ford shares close at or above the 80% barrier level on a quarterly review date for that interest period.
The notes will be called at par plus the contingent coupon if Ford shares close at or above the initial share price on any review date other than the final date.
The payout at maturity will be par plus the contingent coupon unless the final share price is less than the barrier level, in which case 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 stock: | Ford Motor Co. (NYSE: F)
|
| Amount: | $3.57 million
|
| Maturity: | Sept. 10, 2014
|
| Coupon: | 12.9% annualized for each quarter that Ford stock closes at or above barrier price on review date for that interest period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Ford shares finish below barrier price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if Ford shares close at or above initial share price on any review date other than the final date
|
| Initial share price: | $16.45
|
| Barrier price: | $13.16, 80% of initial share price
|
| Pricing date: | Aug. 23
|
| Settlement date: | Aug. 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126NPC5
|
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