By Susanna Moon
Chicago, Oct. 16 – JPMorgan Chase & Co. priced $1.2 million of 9.75% upside autocallable reverse exchangeable notes due Oct. 19, 2015 linked to Swift Transportation Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Swift stock closes at or above the initial share price on either call date.
If the notes are not called, the payout at maturity will be par unless Swift stock closes below the buffer level, 65% of the initial share price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of Swift shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
|
Issue: | Upside autocallable reverse exchangeable notes
|
Underlying stock: | Swift Transportation Co. (Symbol: SWFT)
|
Amount: | $1,209,000
|
Maturity: | Oct. 19, 2015
|
Coupon: | 9.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless Swift stock declines by more than buffer amount during life of notes and finishes below initial price, in which case 48.4262 Swift shares
|
Call: | At par if Swift stock closes at or above initial share price on April 14, 2015 or July 14, 2015
|
Initial share price: | $20.65
|
Buffer amount: | $7.2275, 35% of initial share price
|
Pricing date: | Oct. 14
|
Settlement date: | Oct. 17
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 1.5%
|
Cusip: | 48127DK64
|
|
|
© 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.