By Toni Weeks
San Luis Obispo, Calif., April 29 – JPMorgan Chase & Co. priced $6.09 million of callable contingent interest notes due May 6, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at an annualized rate of 6.03% if each index closes at or above its barrier level, 60% of its initial level, on the review date for that quarter.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its barrier level, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes may be called at par on any contingent interest payment date other than the final date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $6.09 million
|
| Maturity: | May 6, 2019
|
| Coupon: | 6.03% per year, payable quarterly if each index closes at or above barrier level that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either index finishes below barrier level, in which case par plus return of lesser-performing index
|
| Call: | At par on any contingent interest payment date other than final date
|
| Initial levels: | 2,108.92 for S&P and 1,252.7 for Russell
|
| Barrier levels: | 1,265.352 for S&P and 751.62 for Russell, 60% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
|
| Cusip: | 48125UMN9
|
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