By Susanna Moon
Chicago, Feb. 26 - JPMorgan Chase & Co. priced $1.31 million of autocallable contingent interest notes due March 11, 2015 linked to Splunk Inc. shares, according to an FWP with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16.05% if Splunk Squibb shares close at or above the 65% trigger level on a review date for that quarter.
The notes will be called at par plus the coupon if the shares close at or above the initial share price on any review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying shares: | Splunk Inc. (Symbol: SPLK)
|
| Amount: | $1.31 million
|
| Maturity: | March 11, 2015
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| Coupon: | 16.05%, payable quarterly if Splunk Squibb shares close at or above barrier price on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Splunk Squibb shares finish below barrier price, in which case investors share fully in losses
|
| Call: | At par plus contingent coupon if Splunk Squibb shares close at or above initial share price on any quarterly call date
|
| Initial share price: | $89.02
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| Barrier level: | $57.863, 65% of initial share price
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 26
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126N4T1
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