By Toni Weeks
San Luis Obispo, Calif., July 27 – JPMorgan Chase & Co. priced $750,000 of autocallable contingent interest notes due July 26, 2018 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.6% if the index closes at or above the 75% barrier level on a review date for that month.
If the index closes at or above the initial share price on any review date other than the first 11 and final review dates, the notes will be called at par plus the coupon.
If the notes have not been called and the index finishes at or above the 75% trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1.3333% for each 1% index decline beyond the 25% buffer.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying asset: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $750,000
|
| Maturity: | July 26, 2018
|
| Coupon: | 9.6% per year, payable monthly if index at or above barrier that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless index finishes below trigger level, in which case 1.3333% loss for each 1% decline beyond 25% buffer
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any review date other than first 11 and final review dates
|
| Initial level: | 233.8386
|
| Trigger level: | 175.37895, 75% of initial level
|
| Pricing date: | July 23
|
| Settlement date: | July 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 48125UUB6
|
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