By Marisa Wong
Madison, Wis., Aug. 20 – JPMorgan Chase & Co. priced $9.13 million of trigger phoenix autocallable optimization securities due Feb. 22, 2016 linked to Walgreen Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.7% if Walgreen stock closes at or above the trigger level – 80% of the initial share price – on a quarterly observation date.
The notes will be called at par plus the contingent coupon if the shares close at or above the initial price on a quarterly observation date.
The payout at maturity will be par plus the contingent coupon unless Walgreen stock finishes below the trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the underwriters.
Issuer: | JPMorgan Chase & Co.
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Issue: | Trigger phoenix autocallable optimization securities
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Underlying stock: | Walgreen Co. (Symbol: WAG)
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Amount: | $9,131,800
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Maturity: | Feb. 22, 2016
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Coupon: | 8.7%, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par plus contingent coupon if Walgreen shares finish at or above trigger price; otherwise, par plus stock return
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Call: | At par plus contingent coupon if Walgreen shares close at or above initial price on a quarterly observation date
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Initial share price: | $61.75
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Trigger price: | $49.40, 80% of initial price
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Pricing date: | Aug. 15
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Settlement date: | Aug. 20
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Underwriters: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48127H851
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