By Angela McDaniels
Tacoma, Wash., Aug. 5 – JPMorgan Chase & Co. priced $1.55 million of autocallable contingent interest notes due Nov. 3, 2016 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 5.25% if each index closes at or above its barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either index closes below its barrier level on any day during the life of the notes and either index finishes below its initial level, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $1,548,000
|
| Maturity: | Nov. 3, 2016
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 5.25% if 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 falls below barrier level during life of notes and either index finishes below initial level, in which case full exposure to decline of lesser-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 2,103.84 for S&P 500 and 1,238.68 for Russell 2000
|
| Barrier levels: | 1,472.688 for S&P 500 and 867.076 for Russell 2000; 70% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48125UC59
|
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