By Jennifer Chiou
New York, Feb. 2 – JPMorgan Chase & Co. priced $1.25 million of contingent coupon callable yield notes due Feb. 2, 2017 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at a rate of 10% per year if Facebook stock closes at or above the barrier level, 70% of the initial share price, on the observation date for that quarter.
If the final share price is greater than or equal to the barrier level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the share price decline.
The notes are callable at par on any interest payment date other than the final date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | Facebook, Inc. (Symbol: FB)
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| Amount: | $1.25 million
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| Maturity: | Feb. 2, 2017
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| Coupon: | 10% per year, payable quarterly if stock closes at or above barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus coupon; otherwise, full exposure to share price decline
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| Call option: | At par on any interest payment date other than final date
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| Initial share price: | $78.00
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| Barrier level: | $54.60, 70% of initial price
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48125UAB8
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