By Marisa Wong
Madison, Wis., June 17 – JPMorgan Chase & Co. priced $890,000 of autocallable contingent interest notes due June 29, 2016 linked to DISH Network Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.75% if DISH shares close at or above the barrier level, 80% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if DISH shares close at or above the initial share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless DISH stock finishes below the 80% trigger level, in which case investors will receive par plus the return.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | DISH Network Corp. (Symbol: DISH)
|
| Amount: | $890,000
|
| Maturity: | June 29, 2016
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| Coupon: | 12.75% annualized, payable per quarter that DISH shares close at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent interest payment unless stock finishes below trigger level, in which case par plus the return
|
| Call: | At par plus contingent coupon if DISH shares close at or above initial level on any review date other than final review date
|
| Initial price: | $72.62
|
| Trigger price: | $58.096, 80% of initial share price
|
| Pricing date: | June 12
|
| Settlement date: | June 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125UXA5
|
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