By Angela McDaniels
Tacoma, Wash., Feb. 24 – JPMorgan Chase & Co. priced $79,000 of trigger phoenix autocallable optimization securities due Feb. 26, 2020 linked to the common stock of Harley-Davidson Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Harley-Davidson stock closes at or above the trigger price, 73% of the initial share price, on a monthly observation date, the issuer will pay a contingent coupon for that month at the rate of 7% per year. Otherwise, no coupon will be paid that month.
Beginning Feb. 22, 2016, the notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a monthly observation date.
If the notes are not called and Harley-Davidson shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | Harley-Davidson Inc. (Symbol: HOG)
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| Amount: | $79,000
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| Maturity: | Feb. 26, 2020
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| Coupon: | 7% per year, payable monthly if stock closes at or above trigger price on observation date for that month
|
| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Harley-Davidson shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Harley-Davidson shares close at or above initial price on any monthly observation date from Feb. 22, 2016 onward
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| Initial share price: | $63.48
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| Trigger price: | $46.34, 73% of initial share price
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| Pricing date: | Feb. 20
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| Settlement date: | Feb. 25
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48127R297
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