By Susanna Moon
Chicago, Jan. 7 – JPMorgan Chase & Co. priced $9.5 million of contingent income autocallable securities due Jan. 5, 2018 linked to Facebook Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 2.6% if Facebook stock closes at or above the 75% barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock close at or above the initial level on any quarterly determination date other than the final date.
If the notes are not called and Facebook stock finishes at or above the 75% barrier level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of Facebook stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Facebook Inc. (Symbol: FB)
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| Amount: | $9,497,900
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| Maturity: | Jan. 5, 2018
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| Contingent coupon: | 2.6% for each quarter that Facebook stock closes at or above barrier level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold level, par plus contingent payment; otherwise 0.12747 Facebook shares
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| Call: | At par plus contingent payment if stock closes at or above redemption level on any quarterly determination date other than final one
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| Initial share price: | $78.45
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| Barrier level: | $58.8375, 75% of initial share price
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| Pricing date: | Jan. 2
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| Settlement date: | Jan. 7
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Smith Barney, LLC
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| Fees: | 2%
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| Cusip: | 48127P259
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