By Susanna Moon
Chicago, Sept. 16 – JPMorgan Chase & Co. priced $2.84 million of autocallable contingent interest notes due Sept. 15, 2017 linked to the least performing of the common stocks of General Motors Co. and Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock closes at or above the coupon barrier level, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment at an annual rate of 8.35% for that quarter.
If the closing share price of each stock is greater than or equal to its initial share price on any quarterly review date other than the final date, the notes will be called at par plus the contingent payment.
If the notes are not called and each stock finishes at or above the 70% trigger level, the payout at maturity will be par plus the contingent interest payment.
Otherwise, investors will receive a number of shares of the least performing stock equal to $1,000 divided by that stock’s initial share price or, at the issuer’s option, the cash equivalent.
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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| Underlying stocks: | General Motors Co. (Symbol: GM), Ford Motor Co. (Symbol: F)
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| Amount: | $2,844,000
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| Maturity: | Sept. 15, 2017
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| Coupon: | 8.35% per year, payable quarterly if each stock closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless any stock finishes below trigger price, in which case a number of shares of the least performing stock equal to $1,000 divided by initial price
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| Call: | At par plus contingent coupon if closing price of each stock is greater than or equal to its initial share price on any quarterly review date other than final date
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| Barrier levels: | 70% of initial prices
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48127DYG7
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