By Angela McDaniels
Tacoma, Wash., Dec. 16 - JPMorgan Chase & Co. priced $1 million of 10.25% single observation reverse exchangeable notes due Dec. 17, 2014 linked to the common stock of Matador Resources Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than 75% of the initial share price, in which case the payout will be a number of Matador Resources shares equal to $1,000 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single observation reverse exchangeable notes
|
| Underlying stock: | Matador Resources Co. (NYSE: MTDR)
|
| Amount: | $1 million
|
| Maturity: | Dec. 17, 2014
|
| Coupon: | 10.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final price of Matador Resources stock has declined from initial price by more than buffer amount, 52.687 Matador Resources shares or equivalent amount in cash; otherwise, par
|
| Initial share price: | $18.98
|
| Buffer amount: | $4.745, or 25% of initial price
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48126NM87
|
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