By Angela McDaniels
Tacoma, Wash., July 21 – JPMorgan Chase & Co. priced $2.66 million of 15.5% autocallable reverse exchangeable notes due July 28, 2016 linked to the common stock of Chesapeake Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Chesapeake Energy stock closes at or above the initial share price on Jan. 19, 2016 or April 18, 2016.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the initial share price and the stock closes below the trigger price, 50% of the initial share price, on any day during the life of the notes, in which case the payout will be a number of Chesapeake Energy shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable reverse exchangeable notes
|
| Underlying stock: | Chesapeake Energy Corp. (Symbol: CHK)
|
| Amount: | $2,664,000
|
| Maturity: | July 28, 2016
|
| Coupon: | 15.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than initial share price and stock closes below trigger price on any day during life of notes, in which case 91.4077 Chesapeake Energy shares
|
| Call: | At par if stock closes at or above initial share price on Jan. 19, 2016 or April 18, 2016
|
| Initial share price: | $10.94
|
| Trigger value: | $5.47, 50% of initial share price
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 46625HMG2
|
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