By Angela McDaniels
Tacoma, Wash., Nov. 18 – JPMorgan Chase & Co. priced $2 million of autocallable contingent interest notes due Feb. 22, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 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 8% if each index closes at or above its barrier level, 75% 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 finishes below its barrier 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
|
| Indexes: | S&P 500 and Russell 2000
|
| Amount: | $2 million
|
| Maturity: | Feb. 22, 2017
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 8% if each 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 barrier 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: | 2,053.19 for S&P 500 and 1,156.083 for Russell 2000
|
| Barrier levels: | 1,539.8925 for S&P 500 and 867.06225 for Russell 2000; 75% of initial levels
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.25%
|
| Cusip: | 48128GDP2
|
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