By Angela McDaniels
Tacoma, Wash., June 25 – JPMorgan Chase & Co. priced $3.56 million of 0% contingent absolute return autocallable optimization securities due June 26, 2015 linked to the American Depositary Shares of Rio Tinto plc, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 12.65% if Rio Tinto shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 80% of the initial share price, the payout at maturity will be par plus the absolute value of the ADS return. Otherwise, investors will be fully exposed to the ADS decline.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent absolute return autocallable optimization securities
|
| Underlying ADSs: | Rio Tinto plc (Symbol: RIO)
|
| Amount: | $3,562,000
|
| Maturity: | June 26, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of ADS return; otherwise, full exposure to ADS decline
|
| Call: | At par plus 12.65% per year if Rio Tinto shares close at or above initial share price on any quarterly observation date
|
| Initial share price: | $52.62
|
| Trigger price: | $42.10, 80% of initial share price
|
| Pricing date: | June 20
|
| Settlement date: | June 25
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 481246601
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
