By Susanna Moon
Chicago, April 23 - JPMorgan Chase & Co. priced $474,000 of 0% autocallable contingent interest notes due April 24, 2015 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly interest at an annual rate of 10% if the fund closes at or above its 65% barrier level on the review date for that quarter.
The notes will be called at par plus the contingent interest payment if the fund closes at or above its initial level on any quarterly review date other than the final review date.
A trigger event occurs if the fund closes below its barrier level on any day during the life of the notes.
If the final level of the fund is greater than or equal to its initial index level or a trigger event has not occurred, the payout at maturity will be par plus the contingent interest payment.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying fund: | Market Vectors Gold Miners ETF
|
| Amount: | $474,000
|
| Maturity: | April 24, 2015
|
| Coupon: | 10% per year, payable quarterly if fund closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If fund finishes at or above initial index level or trigger event has not occurred, par plus contingent interest payment; otherwise, full exposure to any losses
|
| Trigger event: | If fund closes below barrier level on any day during life of notes
|
| Call: | At par plus contingent payment if each index closes at or above initial level on any quarterly review date other than final review date
|
| Initial level: | $23.51
|
| Barrier level: | $15.2815, 65% of initial level
|
| Pricing date: | April 21
|
| Settlement date: | April 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48127DFA1
|
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