By Susanna Moon
Chicago, March 28 – JPMorgan Chase & Co. priced $2.33 million of callable contingent interest notes due April 3, 2018 linked to the worst performing of the common stocks of Apple Inc., Phillips 66 and United Continental Holdings, Inc., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% if each stock closes at or above its coupon barrier level, 50% of its initial level, on the review date for that month.
The notes will be callable at par on any quarterly review date.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying stocks: | Apple Inc. (Symbol: AAPL), Phillips 66 (Symbol: PSX) and United Continental Holdings, Inc. (Symbol: UAL)
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| Amount: | $2,334,000
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| Maturity: | April 3, 2018
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| Coupon: | 9.5%, payable monthly if each stock closes at or above barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless any stock finishes below trigger level, in which case full exposure to any losses of worst performing stock
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| Call option: | At par on any quarterly review date
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| Initial levels: | $105.67 for Apple, $88.06 for Phillips and $57.84 for United Continental
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| Trigger levels: | $52.835 for Apple, $44.03 for Phillips and $28.92 for United Continental; 50% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.6%
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| Cusip: | 48128GRA0
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