By Susanna Moon
Chicago, Sept. 21 – JPMorgan Chase & Co. priced $2.6 million of trigger phoenix autocallable optimization securities due Sept. 22, 2025 linked to the worst performing of the MSCI EAFE index and 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 9% if each index closes at or above its coupon barrier level, 68.5% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the final contingent coupon unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worse 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 autocallable optimization securities
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| Underlying indexes: | MSCI EAFE and Russell 2000
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| Amount: | $2.6 million
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| Maturity: | Sept. 22, 2025
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| Coupon: | 9% 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; otherwise, full exposure to losses of worse performing index
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| Call: | At par if each index closes at or above initial level on any quarterly observation date beginning Sept. 15, 2016
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| Initial levels: | 1,728.45 for MSCI EAFE, 1,165.995 for Russell
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| Coupon barriers: | 68.5% of initial levels
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| Trigger levels: | 50% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48127Y847
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