New Issue: JPMorgan sells $2.53 million callable reverse exchangeables on Facebook

By Devika Patel

Knoxville, Tenn., April 27 – JPMorgan Chase & Co. priced $2,528,000 of 8.25% callable reverse exchangeable notes due May 1, 2017 linked to the class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes may be called in whole but not in part at par of $1,000 on Nov. 1, 2016 and Feb. 1, 2017.

If the notes are not called, the payout at maturity will be par plus the final interest payment unless the share price has fallen below the trigger price, 70% of the initial share price, during the life of the notes and finishes below its initial price, in which case the payout will be 9.08265 Facebook shares or their cash value.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable reverse exchangeable notes
Underlying stock:	Facebook, Inc. (Symbol: FB)
Amount:	$2,528,000
Maturity:	May 1, 2017
Coupon:	8.25%, payable monthly
Price:	Par of $1,000
Payout at maturity:	Par unless final share price is less than trigger price during the life of the notes and finishes below its initial price, in which case 9.08265 Facebook shares or cash value
Call:	At par on Nov. 1, 2016 and Feb. 1, 2017
Initial share price:	$110.10
Trigger value:	$77.07, 70% of initial share price
Pricing date:	April 25
Settlement date:	April 28
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	46625HRF9

© 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.