By Tali Rackner
Norfolk, Va., Oct. 13 – JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due Oct. 14, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent interest payment at an annual rate of 10.15% if the index closes at or above the 75% barrier level on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above the initial value on any review date.
The payout at maturity will be par plus the contingent coupon unless the index finishes below the 75% trigger level, in which case investors will be exposed to any losses.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1 million
|
| Maturity: | Oct. 14, 2020
|
| Coupon: | 10.15%, payable quarterly if the index closes at or above trigger price on review date for that quarter
|
| Price: | Par of $1,000
|
| Payout at maturity: | Par plus contingent coupon if the index finishes at or above trigger price; otherwise, par plus return
|
| Call: | Par plus contingent coupon if the index closes at or above initial price on any review date
|
| Initial index level: | 1,163.244
|
| Trigger/barrier level: | 872.433, 75% of initial price
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 16
|
| Underwriters: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48125U5X6
|
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