New Issue: JPMorgan prices $1 million 11.4% autocallable yield notes linked to Biogen

By Angela McDaniels

Tacoma, Wash., Oct. 13 – JPMorgan Chase & Co. priced $1 million of 11.4% autocallable yield notes due Oct. 18, 2016 linked to the common stock of Biogen Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if the stock closes at or above its initial share price on April 11, 2016, May 9, 2016, June 9, 2016, July 11, 2016, Aug. 9, 2016 or Sept. 9, 2016.

The payout at maturity will be par unless the stock closes below its trigger level, 60% of its initial share price, on any day during the life of the notes and finishes below its initial share price, in which case investors will be fully exposed to the stock’s decline.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Autocallable yield notes
Underlying stock:	Biogen Inc. (Symbol: BIIB)
Amount:	$1 million
Maturity:	Oct. 18, 2016
Coupon:	11.4%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock closes below trigger level on any day during life of notes and finishes below initial share price, in which case full exposure to stock’s decline
Call:	At par if stock closes at or above initial share price on April 11, 2016, May 9, 2016, June 9, 2016, July 11, 2016, Aug. 9, 2016 or Sept. 9, 2016
Initial share price:	$269.16
Trigger value:	$161.496, 60% of initial share price
Pricing date:	Oct. 9
Settlement date:	Oct. 16
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48128GAH3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.