New Issue: JPMorgan sells $480,000 callable reverse exchangeables on Facebook

By Wendy Van Sickle

Columbus, Ohio, May 19 – JPMorgan Chase & Co. priced $480,000 of 7.25% callable reverse exchangeable notes due May 24, 2017 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes are callable at par on Nov. 25, 2016 or Feb. 27, 2017.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the initial share price and the stock closes below the trigger price, 70% of the initial share price, on any day during the life of the notes, in which case the payout will be 8.52152 Facebook shares or, at the issuer’s option, an amount in cash equal to the value of those shares.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable reverse exchangeable notes
Underlying stock:	Facebook, Inc. (Symbol: FB)
Amount:	$480,000
Maturity:	May 24, 2017
Coupon:	7.25%, payable monthly
Price:	Par of $1,000
Payout at maturity:	Par unless final share price is less than trigger price during the life of the notes and finishes below its initial price, in which case 8.52152 Facebook shares or cash value
Call:	At par on Nov. 25, 2016 and Feb. 27, 2017
Initial share price:	$117.35
Trigger value:	$82.145, 70% of initial share price
Pricing date:	May 17
Settlement date:	May 20
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	46625HRJ1

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