By Angela McDaniels
Tacoma, Wash., July 21 – JPMorgan Chase & Co. priced $6.61 million of autocallable contingent interest notes due Aug. 3, 2016 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annual rate of 11.15% if Facebook shares close at or above the trigger level, 75% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the stock’s decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $6.61 million
|
| Maturity: | Aug. 3, 2016
|
| Coupon: | Each quarter, notes pay contingent coupon at annual rate of 11.15% if Facebook shares close at or above trigger level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final contingent interest payment unless final share price is less than trigger level, in which case full exposure to stock’s decline
|
| Call: | Automatically at par plus contingent coupon if Facebook shares close at or above initial share price on any review date other than final review date
|
| Initial share price: | $94.97
|
| Trigger level: | $75.976, 80% of initial share price
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125UA44
|
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