By Toni Weeks
San Luis Obispo, Calif., June 23 – JPMorgan Chase & Co. priced $467,000 of callable contingent interest notes due June 22, 2018 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6.5% if each index closes at or above its barrier level, 60% of its initial level, on the review date for that quarter.
The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the lesser-performing index.
The notes are callable at par on any 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: | Russell 2000 and S&P 500
|
| Amount: | $467,000
|
| Maturity: | June 22, 2018
|
| Coupon: | 6.5% per year, payable each quarter that each underlying index closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless either index finishes below trigger level, in which case full exposure to decline of lesser-performing index
|
| Call option: | At par plus contingent coupon on any interest payment date other than the final date
|
| Initial levels: | 2,109.99 for S&P 500 and 1,284.661 for Russell 2000
|
| Barrier/trigger levels: | 1,265.994 for S&P 500 and 770.7966 for Russell 2000; 60% of initial levels
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.83%
|
| Cusip: | 48125UWV0
|
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