By Jennifer Chiou
New York, Aug. 12 – JPMorgan Chase & Co. priced $12,911,700 of contingent income autocallable securities due Aug. 11, 2017 linked to Prudential Financial, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 2.0375% if Prudential stock closes at or above the 80% barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any quarterly determination date other than the final date.
If the notes are not called and Prudential stock finishes at or above the barrier level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of Prudential stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Prudential Financial, Inc. (Symbol: PRU)
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| Amount: | $12,911,700
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| Maturity: | Aug. 11, 2017
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| Contingent coupon: | 2.0375% for each quarter that Prudential stock closes at or above barrier level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold level, par plus contingent payment; otherwise 0.11426 Prudential shares
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| Call: | At par plus contingent payment if stock closes at or above initial level on any quarterly determination date other than final one
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| Initial share price: | $87.52
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| Barrier level: | $70.016, 80% of initial share price
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 13
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 481246536
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