By Marisa Wong
Madison, Wis., April 8 – JPMorgan Chase & Co. priced $604,500 of contingent income autocallable securities due April 5, 2018 linked to Amazon.com, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Amazon.com stock closes at or above the 80% downside threshold level on a quarterly determination date, the notes will pay a contingent payment of 2.275% for that quarter.
If Amazon.com stock closes at or above its initial price on any of the quarterly determination dates, other than the final determination date, the notes will be redeemed at par plus the contingent payment.
If the Amazon.com stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will receive a number of shares of Amazon.com stock equal to $10 divided by the initial share price or, at the issuer’s option, the cash value of those shares.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
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| Amount: | $604,500
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| Maturity: | April 5, 2018
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| Contingent payment: | 2.275% per quarter if Amazon.com stock closes at or above downside threshold level on determination date for that quarter
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if Amazon.com stock finishes at or above downside threshold; otherwise 0.02686 Amazon.com shares or, at issuer’s option, cash value of those shares
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| Call: | At par plus contingent payment if Amazon.com stock closes at or above initial share price on any determination date other than final date
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| Initial share price: | $372.25
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| Downside threshold: | $297.80, 80% of initial price
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| Pricing date: | April 2
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| Settlement date: | April 8
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| Agents: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48127T624
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