By Toni Weeks
San Luis Obispo, Calif., Sept. 10 – JPMorgan Chase & Co. priced $4.95 million of 0% single observation knock-in digital notes due Sept. 13, 2016 linked to the lesser performing of the common stock of American International Group, Inc. and the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
A knock-in event occurs if the final share price of each stock is greater than or equal to its knock-in level, 107% of its stock strike price. The stock strike price is the closing share price on Sept. 5.
If a knock-in event has occurred, the payout at maturity will be par plus 57.5%.
If a knock-in event has not occurred, the payout will be par plus the return of the lesser-performing stock. That return may be positive or negative.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Single observation knock-in digital notes
|
| Underlying stocks: | American International Group, Inc. (Symbol: AIG) and Bank of America Corp. (Symbol: BAC)
|
| Amount: | $4.95 million
|
| Maturity: | Sept. 13, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price of each stock is greater than or equal to knock-in level, par plus 57.5%; otherwise, par plus return of lesser performing stock, which may be positive or negative
|
| Stock strike prices: | $55.04 for AIG and $16.02 for BofA; equal to closing share prices on Sept. 5
|
| Knock-in levels: | $58.8928 for AIG and $17.1414 for BofA; 107% of stock strike prices
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48127DZR2
|
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