By Devika Patel
Knoxville, Tenn., Dec. 29 – JPMorgan Chase & Co. priced $1.05 million of autocallable contingent interest notes due June 29, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B8 filed 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 coupon barrier level, 80% 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 if both indexes close above their trigger value, 65% of its initial level.
Otherwise 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: | $1.05 million
|
| Maturity: | June 29, 2017
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 8% if each index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below 65% of its initial value, 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: | 2,060.99 for S&P 500 and 1,154.757 for Russell 2000
|
| Coupon barrier values: | 1,648.792 for S&P 500 and 923.8056 for Russell 2000; 80% of initial levels
|
| Trigger values: | 1,339.6435 for S&P 500 and 750.59205 for Russell 2000; 65% of initial levels
|
| Pricing date: | Dec. 24
|
| Settlement date: | Dec. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.55%
|
| Cusip: | 48128GGN4
|
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