By Susanna Moon
Chicago, Sept. 1 – JPMorgan Chase & Co. priced $3.97 million of trigger phoenix callable optimization securities due Sept. 4, 2019 linked to the worst performing of the S&P 500 index, the MSCI EAFE index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.75% if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date for that quarter.
The notes are callable at par on any quarterly observation date other than the final date.
The payout at maturity will be par plus the final contingent coupon unless any index finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Trigger phoenix callable optimization securities
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| Underlying indexes: | S&P 500, MSCI EAFE and Russell 2000
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| Amount: | $3,965,000
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| Maturity: | Sept. 4, 2019
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| Coupon: | 8.75% per year, payable quarterly if each index closes at or above coupon barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger level, par plus final contingent coupon, if any; otherwise, full exposure to losses of worst performing index
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| Call option: | At par on any quarterly observation date other than the final date
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| Barrier levels: | 60% of initial levels
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 31
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48127V363
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