By Susanna Moon
Chicago, Feb. 26 - JPMorgan Chase & Co. priced $2.67 million of autocallable contingent interest notes due March 2, 2015 linked to the least performing of Apple Inc., Microsoft Corp. and Cisco Systems, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the 75% trigger level on a quarterly review date, the notes will pay a coupon that quarter at an annualized rate of 17.25%.
If each stock closes 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.
The payout at maturity will be par plus the coupon unless any stock finishes below the trigger level, in which case investors will receive a number of shares of the least-performing stock equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Apple Inc., Microsoft Corp. and Cisco Systems, Inc.
|
| Amount: | $2,665,000
|
| Maturity: | March 2, 2015
|
| Coupon: | 17.25% per year, payable quarterly if each stock closes at or above trigger level for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon any stock finishes below trigger price, in which case investors share fully in losses of least-performing stock
|
| Call: | At par plus contingent coupon if closing share price is at or above initial share price on any review date other than final review date
|
| Trigger price: | 75% of initial share price
|
| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 3.674%, including 2% for selling concessions
|
| Cusip: | 48126DYD5
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