By Marisa Wong
Madison, Wis., Oct. 31 - JPMorgan Chase & Co. priced $3.4 million of trigger phoenix autocallable optimization securities due April 30, 2015 linked to Hewlett-Packard Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Hewlett-Packard stock closes at or above the trigger price - 70% of the initial share price - on a quarterly observation date, the notes will pay a contingent coupon at an annual rate of 12.4% for that quarter.
If the shares close at or above the initial price on any quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and Hewlett-Packard shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying stock: | Hewlett-Packard Co. (Symbol: HPQ)
|
| Amount: | $3,395,200
|
| Maturity: | April 30, 2015
|
| Coupon: | 12.4%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if Hewlett-Packard shares finish at or above trigger price; otherwise, par plus stock return
|
| Call: | Automatically at par plus contingent coupon if Hewlett-Packard shares close at or above initial price on a quarterly observation date
|
| Initial share price: | $23.84
|
| Trigger price: | $16.69, 70% of initial price
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127A401
|
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