By Jennifer Chiou
New York, July 3 – JPMorgan Chase & Co. priced $880,000 of autocallable contingent interest notes due July 5, 2019 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying component closes at or above the 70% interest barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of 6.6% for that interest period.
If each component closes at or above its initial level on any review date other than the first and final review dates, the notes will be called at par plus the coupon.
A trigger event occurs if any underlying component closes below the 50% trigger level during the life of the notes.
If the notes are not called and each component finishes at or above its initial level or a trigger event has not occurred, the payout at maturity will be par plus the contingent coupon.
If any underlying component finishes below its initial level and a trigger event has occurred, investors will lose 1% for every 1% decline in the least-performing underlying component from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | S&P 500, Russell 2000 and Euro Stoxx 50
|
| Amount: | $880,000
|
| Maturity: | July 5, 2019
|
| Coupon: | 6.6% per year, payable quarterly if each underlying component closes at or above barrier level on a semiannual review date
|
| Price: | Par
|
| Payout at maturity: | If each component finishes at or above initial level or trigger event has not occurred, par plus the contingent coupon; if any component finishes below its initial level and a trigger event has occurred, 1% loss for every 1% decline in the least-performing underlying component from its initial level
|
| Trigger event: | Occurs if any component closes below trigger level during life of notes
|
| Call: | At par plus coupon if each component closes at or above its initial level on any review date other than first and final review dates
|
| Initial levels: | 1,960.23 for S&P, 1,192.964 for Russell and 3,228.24 for Euro Stoxx
|
| Interest barrier levels: | 1,372.161 for S&P, 835.0748 for Russell and 2,259.768 for Euro Stoxx; 70% of initial levels
|
| Trigger levels: | 980.115 for S&P, 596.482 for Russell and 1,614.12 for Euro Stoxx; 50% of initial levels
|
| Pricing date: | June 30
|
| Settlement date: | July 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.6%
|
| Cusip: | 48127DQR2
|
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