New Issue: JPMorgan prices $306,000 7% callable reverse exchangeables linked to Facebook

By Angela McDaniels

Tacoma, Wash., June 14 – JPMorgan Chase & Co. priced $306,000 of 7% callable reverse exchangeable notes due June 16, 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 are callable at par on Dec. 19, 2016 and March 17, 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, 65% of the initial share price, on any day during the life of the notes, in which case the payout will be a number of Facebook shares equal to $1,000 divided by the initial share price 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:	$306,000
Maturity:	June 16, 2017
Coupon:	7%, payable monthly
Price:	Par
Payout at maturity:	Par unless final share price is less than initial share price and stock closes below trigger price on any day during life of notes, in which case 8.5749 Facebook shares or, at issuer’s option, amount in cash equal to value of those shares
Call option:	At par on Dec. 19, 2016 and March 17, 2017
Initial share price:	$116.62
Trigger price:	$75.803, 65% of initial share price
Pricing date:	June 10
Settlement date:	June 15
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	46625HRP7

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