By Toni Weeks
San Luis Obispo, Calif., May 19 – JPMorgan Chase & Co. priced $8.29 million of 9.15% airbag autocallable yield optimization notes due May 19, 2016 linked to the common stock of Weatherford International plc, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if Weatherford shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Weatherford shares equal to $1,000 divided by the conversion price. The conversion price is 78% of the initial share price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Airbag autocallable yield optimization notes
|
Underlying stock: | Weatherford International plc (Symbol: WFT)
|
Amount: | $8,287,000
|
Maturity: | May 19, 2016
|
Coupon: | 9.15%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless final share price is less than conversion price, in which case number of Weatherford shares equal to $1,000 divided by conversion price
|
Call: | At par if Weatherford shares close at or above initial share price on any quarterly observation date
|
Initial share price: | $14.50
|
Conversion price: | $11.31, 78% of initial share price
|
Pricing date: | May 15
|
Settlement date: | May 20
|
Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
Fees: | 1.5%
|
Cusip: | 48127X856
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.