By Wendy Van Sickle
Columbus, Ohio, Jan. 13 – JPMorgan Chase & Co. priced $1.22 million of contingent income autocallable securities due Jan. 17, 2017 linked to Alibaba Group Holding Ltd. American Depositary 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 at l1% if the stock closes at or above 70% of its initial level on any quarterly determination date other than the final one.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 70% trigger level, in which case investors will be fully exposed to the loss.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying ADSs: | Alibaba Group Holding Ltd. (NYSE: BABA)
|
| Amount: | $1,217,150
|
| Maturity: | Jan. 17, 2017
|
| Coupon: | 11% per year, payable quarterly if Alibaba shares close at or above trigger level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to trigger level, par plus contingent coupon; otherwise, full exposure to loss
|
| Call: | Automatically at par plus contingent coupon if Alibaba shares close at or above initial share price on any determination date other than the final one
|
| Initial share price: | $70.80
|
| Barrier price: | $49.56, 70% of initial share price
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 13
|
| Underwriter: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48128A582
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
