By Susanna Moon
Chicago, May 6 - JPMorgan Chase & Co. priced $3.46 million of contingent income autocallable securities due May 5, 2017 linked to Chipotle Mexican Grill, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Chipotle stock closes at or above the 80% trigger level on a quarterly determination date, the notes will pay a contingent payment of 2.5% for that quarter.
If Chipotle stock closes at or above the initial level on any quarterly determination date, the notes will be redeemed at par plus the contingent payment.
If the Chipotle stock finishes at or above the 80% trigger level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will receive a number of shares equal to $10 divided by the initial stock price.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Chipotle Mexican Grill, Inc. (Symbol: CMG)
|
| Amount: | $3,459,250
|
| Maturity: | May 5, 2017
|
| Contingent payment: | 2.5% per quarter if Chipotle stock closes at or above downside threshold level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus contingent coupon if Chipotle stock finishes at or above trigger level; otherwise, 0.01993 Chipotle shares
|
| Call: | At par plus contingent payment if Chipotle stock closes at or above initial level on any determination date
|
| Initial share price: | $501.77
|
| Trigger level: | $401.416, 80% of initial price
|
| Pricing date: | May 2
|
| Settlement date: | May 7
|
| Agents: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48127F525
|
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