By Susanna Moon
Chicago, July 13 – JPMorgan Chase & Co. priced $1 million of 19.1% autocallable reverse exchangeable notes due July 18, 2016 linked to Cyberark Software Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Cyberark stock closes at or above the initial share price on any review date other than the final date.
The payout at maturity will be par unless the stock ever closes the 50% trigger level during the life of the notes and finishes below its initial level, in which case investors will receive a number of Cyberark 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.
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| Issue: | Autocallable reverse exchangeable notes
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| Underlying stock: | Cyberark Software Ltd. (Symbol: CYBR)
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| Amount: | $1 million
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| Maturity: | July 18, 2016
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| Coupon: | 19.1%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock ever dips below trigger and finishes below initial level, in which case 16.8634 Cyberark shares
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| Call: | At par if stock closes at or above initial share price on any review date other than the final date
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| Initial level: | $59.30
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| Trigger level: | $29.65, 50% of initial level
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| Pricing date: | July 9
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| Settlement date: | July 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 46625HMK3
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