By Susanna Moon
Chicago, April 14 – JPMorgan Chase & Co. priced $5.64 million of contingent income autocallable securities due April 13, 2018 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.45% if the stock closes at or above the 75% barrier level on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below the 75% barrier level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent income notes
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| Underlying stock: | Facebook, Inc. (Nasdaq: FB)
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| Amount: | $5,438,530
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| Maturity: | April 13, 2018
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| Coupon: | 8.45% annualized, payable monthly if 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 coupon unless stock finishes below barrier level, in which case 0.12189 Facebook shares
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| Call: | At par plus coupon if stock closes at or above initial level on any review date other than final review date
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| Initial level: | $82.04
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| Barrier level: | $61.53, 75% of initial level
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| Pricing date: | April 10
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| Settlement date: | April 15
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| Agent: | J.P. Morgan Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 48127T533
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