By Jennifer Chiou
New York, Jan. 23 – JPMorgan Chase & Co. priced $283,000 of 12% autocallable yield notes due Jan. 26, 2016 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will called at par plus accrued interest if the fund closes at or above its initial level on any of three quarterly determination dates beginning on April 21, 2015.
The payout at maturity will be par unless the fund ever closes at or below the 65% trigger level during the life of the notes and finishes below the initial level, in which case the payout will be par plus the return with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying fund: | Market Vectors Gold Miners ETF
|
| Amount: | $283,000
|
| Maturity: | Jan. 26, 2016
|
| Coupon: | 12%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If fund ever falls by 35% or more during life of the notes and finishes below the initial level, par plus return with exposure to any losses; otherwise, par
|
| Call: | At par plus accrued interest if the fund closes at or above its initial level on any of three quarterly determination dates beginning on April 21, 2015
|
| Initial level: | $22.55
|
| Buffer amount: | $7.8925, 35% of initial level
|
| Pricing date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48127D6N3
|
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