By Toni Weeks
San Luis Obispo, Calif., July 5 - JPMorgan Chase & Co. priced $2.13 million of trigger phoenix autocallable optimization securities due Jan. 8, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the coupon barrier, 76.3% of the initial level, on a quarterly observation date, the issuer will pay a contingent coupon for that quarter at the rate of 5% per year. Otherwise, no coupon will be paid that quarter.
If the index closes at or above the initial level on a quarterly observation date, the notes will be called at par of $10 plus the contingent coupon.
If the notes are not called and the index finishes at or above the 76.3% trigger level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the index decline from the initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger phoenix autocallable optimization securities
|
| Underlying index: | S&P 500
|
| Amount: | $2,129,360
|
| Maturity: | Jan. 8, 2015
|
| Coupon: | 5% per year, payable quarterly if index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if index finishes at or above trigger level; otherwise, par plus index return
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on a quarterly observation date
|
| Initial level: | 1,614.08
|
| Coupon barrier/trigger level: | 1,231.54, 76.3% of initial level
|
| Pricing date: | July 2
|
| Settlement date: | July 8
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48126H746
|
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