New Issue: JPMorgan prices $840,000 9% upside autocallable reverse exchangeables on VeriFone

By Susanna Moon

Chicago, Aug. 12 – JPMorgan Chase & Co. priced $840,000 of 9% upside autocallable reverse exchangeable notes due Nov. 13, 2015 linked to VeriFone Systems, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par plus accrued interest if VeriFone stock closes at or above the initial share price on any of three quarterly call dates.

The payout at maturity will be par in cash unless VeriFone stock ever closes below the 65% trigger level during the life of the notes and finishes below the initial share price, in which case investors will receive a number of VeriFone shares equal to $1,000 divided by the initial share price or, at JPMorgan’s option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Upside autocallable reverse exhangeable notes
Underlying stock:	VeriFone Systems, Inc. (Symbol: PAY)
Amount:	$840,000
Maturity:	Nov. 13, 2015
Coupon:	9%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless VeriFone shares ever dips below trigger level and finish below the initial price, in which case 30.1386 VeriFone shares
Initial price:	$33.18
Buffer amount:	$11.613, 35% of initial share price
Call:	At par plus accrued interest if stock closes at or above initial price on Feb. 9, 2015 or May 8, 2015 or Aug. 10, 2015
Pricing date:	Aug. 8
Settlement date:	Aug. 13
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48127DWG9

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