By Marisa Wong
Madison, Wis., June 27 - JPMorgan Chase & Co. priced $2.55 million of 10% upside autocallable single observation reverse exchangeable notes due June 27, 2014 linked to the American Depositary Shares of Sony Corp., 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 Sony shares close at or above the initial share price on any of three quarterly call dates.
The payout at maturity will be par in cash unless Sony shares finishes below the 70% trigger level, in which case investors will receive a number of Sony 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 single observation reverse exchangeable notes
|
| Underlying ADSs: | Sony Corp. (NYSE: SNE)
|
| Amount: | $2.55 million
|
| Maturity: | June 27, 2014
|
| Coupon: | 10%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Sony shares finishes below 70% trigger level, in which case 49.0196 Sony shares or, at JPMorgan's option, cash equivalent
|
| Call: | At par plus accrued interest if Sony shares close at or above initial share price on Sept. 25, Dec. 26 or March 26, 2014
|
| Initial price: | $20.40
|
| Buffer amount: | $6.12, 30% of initial price
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.147%
|
| Cusip: | 48126NEG8
|
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