By Susanna Moon
Chicago, Aug. 6 - JPMorgan Chase & Co. priced $1.23 million of autocallable contingent interest notes due Aug. 8, 2014 linked to Ryland Group, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 13.75% if Ryland Group 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 at or above the 65% trigger level, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
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 stock: | Ryland Group, Inc. (Symbol: RYL)
|
| Amount: | $1,226,380
|
| Maturity: | Aug. 8, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of return; otherwise, full exposure to stock decline
|
| Call: | At par plus 13.75% per year if Ryland Group stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $41.14
|
| Trigger price: | $26.74, 65% of initial share price
|
| Pricing date: | Aug. 2
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| Settlement date: | Aug. 7
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48126H647
|
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