By Toni Weeks
San Luis Obispo, Calif., Jan. 29 - JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due Feb. 12, 2014 linked to the registered shares of Weatherford International Ltd. and the common stocks of Schlumberger NV and Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
If the closing price of each stock is at or above the 65% barrier level on a quarterly review date, the notes will pay a coupon that quarter at an annualized rate of 12%.
If the closing price of each stock is at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and each stock finishes at or above its trigger level, the payout at maturity will be par plus the coupon. If any stock finishes below the trigger level, investors will be fully exposed to the decline in the least-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Weatherford International Ltd. (Symbol: WFT), Schlumberger NV (Symbol: SLB) and Halliburton Co. (Symbol: HAL)
|
| Amount: | $1 million
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| Maturity: | Feb. 12, 2014
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| Coupon: | 12% annualized if the closing price of each stock is at or above barrier level on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above trigger level, par plus coupon; otherwise, exposure to decline of least-performing stock
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| Call: | At par plus contingent coupon if stocks close above initial prices on any review date other than final review date
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| Initial share prices: | $12.52 for Weatherford, $78.02 for Schlumberger and $37.81 for Halliburton
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| Barrier/trigger prices: | $8.138 for Weatherford, $50.713 for Schlumberger and $24.5765 for Halliburton, 65% of initial share prices
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48126DVA4
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