By Susanna Moon
Chicago, Dec. 28 – JPMorgan Chase & Co. priced $914,000 of 8.25% autocallable reverse convertible securities due Dec. 30, 2016 linked to class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par 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 unless Facebook shares ever close at or below the knock-in price, 65% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | Facebook, Inc. (Symbol: FB)
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| Amount: | $914,000
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| Maturity: | Dec. 30, 2016
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| Coupon: | 8.25%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless the stock falls and ever closes at or below knock-in price during life of notes, in which case 9.5575 Facebook shares
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| Call: | At par if Facebook shares close at or above initial share price on any review Date other than the final date
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| Initial level: | $104.63
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| Knock-in price: | $68.01, 65% of initial share price
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 46625HPU8
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