By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – JPMorgan Chase & Co. priced $169,000 of 10% callable reverse exchangeable notes due Feb. 21, 2017 linked to the common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be callable at par plus accrued interest on Aug. 19 or on Nov. 21, 2016.
The payout at maturity will be par unless the stock closes below its trigger level, 60% of the initial share price, on any day during the life of the notes, in which case the payout will be 9.803 Facebook shares, with fractional amounts to be paid in cash or, at the issuer’s discretion, the entire amount to be paid in cash.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Callable reverse exchangeable notes
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| Underlying stock: | Facebook, Inc. (Symbol: FB)
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| Amount: | $169,000
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| Maturity: | Feb. 21, 2017
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| Coupon: | 10% a year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless final share price is less than initial price and shares close below trigger price on any day during life of notes, in which case 9.803 Facebook shares or equivalent cash
|
| Call: | At par plus accrued interest on Aug. 19 or on Nov. 21, 2016
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| Initial value: | $102.01
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| Trigger value: | $66.3065, 65% of initial value
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48128AAH6
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