By Jennifer Chiou
New York, Oct. 1 – JPMorgan Chase & Co. priced $1.61 million of autocallable contingent interest accrual notes due Sept. 29, 2017 linked to Pandora Media, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will accrue interest at 13% per year for each day that the stock closes at or above the trigger level, 50% of the initial share price. Interest is payable monthly.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest accrual notes
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| Underlying stock: | Pandora Media, Inc. (Symbol: P)
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| Amount: | $1.61 million
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| Maturity: | Sept. 29, 2017
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| Coupon: | Accrues at 13% per year, payable monthly, for each day that the stock closes at or above the trigger level
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, investors will be fully exposed to any losses
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| Call: | At par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than final review date
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| Initial level: | $24.59
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| Trigger price: | $12.295, 50% of initial share price
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48127DF29
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