By Toni Weeks
San Diego, Dec. 31 - JPMorgan Chase & Co. priced $4.34 million of buffered autocallable optimization securities due Jan. 6, 2014 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund closes at or above its initial level on any quarterly observation date, the notes will be called at par plus an annualized call return of 7%.
If the notes are not called and the fund falls by up to 5%, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline beyond the 5% buffer.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Buffered autocallable optimization securities
|
| Underlying fund: | SPDR S&P 500 ETF trust
|
| Amount: | $4,339,480
|
| Maturity: | Jan. 6, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 95% of initial level, par; otherwise, 1% loss for every 1% decline beyond 5%
|
| Initial price: | $141.59
|
| Call: | At par plus 7% per year if index closes at or above initial level on quarterly observation date
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 31
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48126E388
|
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