By Susanna Moon
Chicago, May 4 – JPMorgan Chase & Co. priced $65 million of 8% equity-linked notes due May 5, 2016 linked to HCA Holdings, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the final share price is greater than the lower put strike price and less than the upper put strike, the payout at maturity will be 88.30022% of the return.
If the final share price is greater than or equal to the upper put strike price and less than the call strike price, the payout will be par.
If the final share price is greater than or equal to the call strike price, the payout will be par plus the upside participation of 65% less the call strike price, in cash or shares.
If the final share price is less than the upper put strike price, investors will lose up to about 24.945% of par.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Equity-linked notes
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| Underlying stock: | HCA Holdings, Inc. (Symbol: HCA)
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| Amount: | $65,000,164.82
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| Maturity: | May 5, 2016
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| Coupon: | 8%, payable monthly
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| Price: | Par of $75.9756
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| Payout at maturity: | Par plus 0.65 times the difference of the final stock price and the call strike price if stock closes at or above call strike price; par if the final price is at or above the upper put strike price and less than the call strike price; 88.30022% times the final share price if the final price is above lower put strike price and below the upper put strike price
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| Initial strike price: | $75.9756
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| Lower put strike price: | $64.57926, 85% of initial strike price
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| Upper put strike price: | $86.04237, 113.25% of initial strike price
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| Call strike price: | $89.27133, 117.5% of initial strike price
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| Pricing date: | April 28
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| Settlement date: | May 5
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| Underwriter: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48127T210
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