By Jennifer Chiou
New York, Oct. 6 – JPMorgan Chase & Co. priced $1 million of contingent coupon autocallable yield notes due Oct. 7, 2015 linked to the American Depositary Shares of Vipshop Holdings Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
If Vipshop shares close at or above the coupon barrier level, 57.5% of the initial price, on a monthly observation date, the notes will pay a contingent payment for that period at a rate of 15% per year.
If the closing share price is greater than or equal to the initial share price on any monthly observation date other than the first and final observation dates, the notes will be automatically redeemed at par plus the contingent payment.
If the notes are not called, the payout at maturity will be par plus the coupon unless the final share price is less than the 57.5% knock-in level, in which case investors will receive par plus the share return, with full exposure to losses.
J.P. Morgan Securities (LLC) is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying ADS: | Vipshop Holdings Ltd. (Symbol: VIPS)
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| Amount: | $1 million
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| Maturity: | Oct. 7, 2015
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| Contingent payment: | 15% per year, payable monthly if Vipshop shares close at or above coupon barrier level on observation date for that month
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| Price: | Par
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| Payout at maturity: | If share price finishes below 57.5% knock-in level, par plus share return, with full exposure to losses; otherwise, par plus final coupon
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| Call: | Automatically at par plus contingent payment if closing share price is greater than or equal to initial share price on any monthly observation date other than the first and final observation dates
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| Initial share price: | $183.37
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| Coupon barrier/knock-in price: | $105.43775, 57.5% of initial share price
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| Pricing date: | Oct. 2
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| Settlement date: | Oct. 7
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| Agent: | J.P. Morgan Securities (LLC)
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| Fees: | 1.25%
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| Cusip: | 48127DJ74
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