By Marisa Wong
Morgantown, W.Va., Oct. 20 – JPMorgan Chase & Co. priced $1.69 million of autocallable contingent interest notes due Nov. 2, 2016 linked to the common stock of Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 13.05% per year if Ford shares close at or above the trigger level, 80% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Ford shares close at or above the initial share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Ford Motor Co. (Symbol: F)
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| Amount: | $1,693,000
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| Maturity: | Nov. 2, 2016
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| Coupon: | 13.05% per year, payable quarterly if Ford shares close at or above the trigger level on the review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the stock’s decline from its initial share price
|
| Call: | Automatically at par plus the contingent coupon if Ford shares close at or above the initial share price on any review date other than the final review date
|
| Initial price: | $15.28
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| Trigger price: | $12.224, 80% of initial price
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| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48128GAL4
|
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