By Tali Rackner
Norfolk, Va., Dec. 18 – JPMorgan Chase & Co. priced $1.99 million of 9.2% autocallable reverse exchangeable notes due Dec. 20, 2016 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Amazon stock closes at or above the initial share price on any review date other than the final one.
If the notes are not called, the payout at maturity will be par plus the final interest payment unless the share price has fallen below the trigger price, 70% of the initial share price, during the life of the notes, in which case the payout will be 1.5183 Amazon shares.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable reverse exchangeable notes
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Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
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Amount: | $1,991,000
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Maturity: | Dec. 20, 2016
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Coupon: | 9.2%, payable monthly
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Price: | Par of $1,000
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Payout at maturity: | Par unless final share price is less than trigger price, in which case 1.5183 Amazon shares
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Call: | At par if stock closes at or above initial share price on any review date other than the final one
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Initial share price: | $658.64
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Trigger value: | $461.048, 70% of initial share price
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Pricing date: | Dec. 15
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Settlement date: | Dec. 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 46625HPP9
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