By Susanna Moon
Chicago, Oct. 10 - JPMorgan Chase & Co. priced $1.73 million of autocallable contingent interest notes due Oct. 23, 2013 linked to Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If Wells Fargo shares close at or above the 75% trigger level on a quarterly review date, the notes will pay a coupon at an annualized rate of 8.65% for that quarter.
If Wells Fargo shares close at or above the initial share price on any of the review dates other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the shares finish at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Wells Fargo & Co. (NYSE: WFC)
|
| Amount: | $1,725,000
|
| Maturity: | Oct. 23, 2013
|
| Coupon: | 8.65% annualized, payable quarterly, if Wells Fargo shares closed at or above trigger price
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Wells Fargo shares finish below downside threshold price, in which case investors share in any losses
|
| Call: | At par plus contingent coupon if closing share price on first three quarterly valuation dates is greater than or equal to initial share price
|
| Initial share price: | $35.84
|
| Downside threshold price: | $26.88, 75% of initial share price
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 11
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48126DCD9
|
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