New York, Jan. 23 – JPMorgan Chase & Co. priced $2 million of 13.1% autocallable contingent interest notes due Feb. 10, 2016 linked to the common stock of Valeant Pharmaceuticals International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $1,000, which is equal to the initial share price of Valeant Pharmaceuticals stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Valeant Pharmaceuticals stock is less than 60% of the initial share price, in which case investors will receive one Valeant Pharmaceuticals share per note.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Valeant Pharmaceuticals International, Inc. (NYSE: “VRX”)
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| Amount: | $2 million
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| Maturity: | Feb. 10, 2016
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| Coupon: | 13.1%, payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | If final share price is less than trigger price, one Valeant Pharmaceuticals share; otherwise, par
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| Initial share price: | $157.02.
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| Trigger price: | $94.212, 60% of initial price
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48127D6W3
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