By Susanna Moon
Chicago, Oct. 1 – JPMorgan Chase & Co. priced $2.93 million of autocallable contingent interest notes due Sept. 28, 2018 linked to the worst performing of the common stocks of FedEx Corp., Exxon Mobil Corp. and United Continental Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10.15% if each stock closes at or above its barrier level, 50% of its initial level, on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any review date.
The payout at maturity will be par unless any stock finishes below its initial level and any component ever closes below its 50% barrier level during the life of the notes, in which case investors will be fully exposed to any losses of the worse performing component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlyings: | FedEx Corp. (symbol: FDX), Exxon Mobil Corp. (symbol: XOM) and United Continental Holdings, Inc. (symbol: UAL)
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| Amount: | $2,929,000
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| Maturity: | Sept. 28, 2018
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| Coupon: | 10.15% annualized, payable monthly if each underlying component closes at or above coupon barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any stock falls and any stock ever closes below trigger level, in which case full exposure to any losses of worse performing stock
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| Call: | At par plus contingent coupon if each component closes at or above initial level on any review date
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| Initial levels: | $144.45 for FedEx, $73.23 for Exxon Mobil and $55.42 for United Continental
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| Barrier levels: | 50% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.65%
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| Cusip: | 48125U4F6
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