By Tali Rackner
Norfolk, Va., Nov. 13 – JPMorgan Chase & Co. priced $2.98 million of autocallable contingent interest notes due Nov. 16, 2016 linked to the 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 10.9% if Facebook shares close at or above the barrier level, 70% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par of $1,000 plus the contingent coupon if Facebook shares close at or above the initial share price on any review date other than the final date.
The payout at maturity will be par plus the contingent coupon unless Facebook shares finish below the 70% trigger level, in which case investors will be exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | Facebook, Inc.
|
| Amount: | $2.98 million
|
| Maturity: | Nov. 16, 2016
|
| Coupon: | 10.9% annually, payable quarterly if stock closes at or above trigger price on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if Facebook shares finish at or above trigger price; otherwise, full exposure to losses
|
| Call: | Automatically at par plus contingent coupon if Facebook shares close at or above initial price on any quarterly review date other than the final date
|
| Initial share price: | $101.97
|
| Trigger price: | $71.379, 70% of initial price
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Underwriters: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48128GBH2
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
