New Issue: JPMorgan sells $1.93 million 8.25% autocall reverse exchangeables on Gilead

By Susanna Moon

Chicago, Aug. 28 – JPMorgan Chase & Co. priced $1.93 million of 8.25% upside autocallable reverse exchangeable notes due Aug. 31, 2015 linked to Gilead Sciences, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus accrued interest if Gilead stock closes at or above the initial share price on Feb. 26, 2015 or May 26, 2015.

The payout at maturity will be par in cash unless Gilead stock ever closes below the 70% trigger level during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Gilead shares equal to $1,000 divided by the initial share price or, at JPMorgan’s option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Upside autocallable reverse exhangeable notes
Underlying stock:	Gilead Sciences, Inc. (Symbol: GILD)
Amount:	$1,928,000
Maturity:	Aug. 31, 2015
Coupon:	8.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Gilead shares ever dips below trigger level and finish below the initial price, in which case 9.4100 Gilead shares
Initial price:	$106.27
Buffer amount:	$31.881, 30% of initial share price
Call:	At par plus accrued interest if stock closes at or above initial price on Feb. 26, 2015 or May 26, 2015
Pricing date:	Aug. 26
Settlement date:	Aug. 29
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48127DXE3

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