By Toni Weeks
San Luis Obispo, Calif., April 30 - JPMorgan Chase & Co. priced $727,000 of contingent interest notes due April 30, 2019 linked to the JPMorgan ETF Efficiente 5 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 0.5% per year if the index level on any annual interest review date is greater than or equal to the initial index level. Otherwise, no interest will be paid for that interest period. Interest is payable annually.
The payout at maturity will be par plus the index return, subject to a minimum payout of par.
The index tracks the excess return of a portfolio of 12 exchange-traded funds, with dividends reinvested, and the JPMorgan Cash Index USD 3 Month above the return of the cash index less a fee of 0.5% per year that accrues daily.
The 12 ETFs are the SPDR S&P 500 ETF trust, the iShares Russell 2000 index fund, the iShares MSCI EAFE index fund, the iShares Barclays 20+ Year Treasury Bond fund, the iShares iBOXX Investment Grade Corporate Bond fund, the iShares iBOXX High Yield Corporate Bond fund, the iShares MSCI Emerging Markets index fund, the iShares Emerging Markets Bond fund, the iShares Dow Jones Real Estate index fund, the iShares S&P GSCI Commodity-Indexed trust, the SPDR Gold trust and the iShares Barclays TIPS Bond.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent interest notes
|
| Underlying index: | JPMorgan ETF Efficiente 5 index
|
| Amount: | $727,000
|
| Maturity: | April 30, 2019
|
| Coupon: | 0.5% per year, only if index level on any annual interest review date is greater than or equal to initial level; otherwise, no interest paid for that interest period; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par plus index return, subject to minimum payout of par
|
| Initial index level: | 120.89
|
| Pricing date: | April 26
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.45%, including 3.45% for selling concessions
|
| Cusip: | 48126DH28
|
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