By Marisa Wong
Madison, Wis., May 2 - JPMorgan Chase & Co. priced $1.5 million of autocallable contingent interest notes due May 21, 2014 linked to Foster Wheeler AG shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Foster Wheeler shares close at or above the 65% trigger level on a quarterly review date, the notes will pay a coupon at an annualized rate of 10.05% 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.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Foster Wheeler AG (Nasdaq: FWLT)
|
| Amount: | $1.5 million
|
| Maturity: | May 21, 2014
|
| Coupon: | 10.05% per year, payable quarterly if Foster Wheeler stock at or above trigger price that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Foster Wheeler shares finish below trigger price, in which case investors share fully in losses
|
| 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
|
| Initial share price: | $21.10
|
| Trigger price: | $13.715, 65% of initial share price
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126D4B2
|
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