By Marisa Wong
Madison, Wis., Nov. 29 - JPMorgan Chase & Co. priced $5.22 million of 0% contingent absolute return autocallable optimization securities due Dec. 6, 2013 linked to the SPDR S&P Homebuilders exchange-traded fund, 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 10% if the ETF's 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 ETF return. Otherwise, investors will be fully exposed to the ETF 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 ETF: | SPDR S&P Homebuilders exchange-traded fund
|
| Amount: | $5,223,590
|
| Maturity: | Dec. 6, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of ETF return; otherwise, full exposure to ETF decline
|
| Call: | At par of $10 plus 10% per year if ETF's shares close at or above initial share price on any quarterly observation date
|
| Initial price: | $26.22
|
| Trigger price: | $20.98, 80% of initial price
|
| Pricing date: | Nov. 27
|
| Settlement date: | Nov. 30
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 46637G140
|
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