By Devika Patel
Knoxville, Tenn., Jan. 21 – JPMorgan Chase & Co. priced $521,000 of 9% autocallable reverse exchangeable notes due Jan. 23, 2017 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.
The notes will be called at par of $1,000 if Facebook stock closes at or above the initial share price on July 15 or Oct. 17.
If the notes are not called, the payout at maturity will be par plus the final interest payment unless the share price has fallen below the trigger price, 67.5% of the initial share price, during the life of the notes, in which case the payout will be 10.5296 Facebook shares or their cash value.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable reverse exchangeable notes
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $521,000
|
| Maturity: | Jan. 23, 2017
|
| Coupon: | 9%, payable monthly
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par unless final share price is less than trigger price, in which case 10.5296 Facebook shares or cash value
|
| Call: | At par if stock closes at or above initial share price on July 15 or Oct. 17
|
| Initial share price: | $94.97
|
| Trigger value: | $64.10475, 67.5% of initial share price
|
| Pricing date: | Jan. 15
|
| Settlement date: | Jan. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48128AAC7
|
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