By Angela McDaniels
Tacoma, Wash., April 2 – JPMorgan Chase & Co. priced $1.42 million of 7% autocallable reverse exchangeable notes due July 6, 2016 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Beginning Sept. 30, 2015, the notes will be called at par if Facebook stock closes at or above the initial share price on any quarterly review date.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the initial share price and the stock closes below the trigger price, 70% of the initial share price, on any day during the life of the notes, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable reverse exchangeable notes
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $1,417,000
|
| Maturity: | July 6, 2016
|
| Coupon: | 7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than initial share price and stock closes below trigger price on any day during life of notes, in which case 12.01995 Facebook shares
|
| Call: | At par if stock closes at or above initial share price on any quarterly review date from Sept. 30, 2015 onward
|
| Initial share price: | $83.195
|
| Trigger price: | $58.2365, 70% of initial share price
|
| Pricing date: | March 30
|
| Settlement date: | April 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48125UKK7
|
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