By Angela McDaniels
Tacoma, Wash., Dec. 22 – JPMorgan Chase & Co. priced $422,400 of 0% autocallable Performance Leveraged Upside Securities due Dec. 21, 2017 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF’s shares close at or above the call threshold level, 110% of the initial share price, on June 16, 2016, the notes will be automatically redeemed at 110% of par.
If the notes are not called and the final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus 150% of the ETF return, subject to a maximum return of 32.5%. If the final share price is less than the initial share price, investors will be fully exposed to the ETF’s decline.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Smith Barney LLC.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable Performance Leveraged Upside Securities
|
| Underlying fund: | Financial Select Sector SPDR fund
|
| Amount: | $422,400
|
| Maturity: | Dec. 21, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 150% of any fund gain, capped at 32.5%; full exposure to any fund decline
|
| Call: | Automatically at 110% of par if ETF’s shares close at or above call threshold level on June 16, 2016
|
| Initial share price: | $24.44
|
| Call threshold level: | $26.884, 110% of initial share price
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 48127Y128
|
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