By Marisa Wong
Morgantown, W.Va., Dec. 30 – JPMorgan Chase & Co. priced $205,500 of trigger phoenix autocallable optimization securities due Dec. 21, 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Every six months, the notes will pay a contingent coupon at the rate of 8.2% per year if the index closes at or above its trigger level, 70% of its initial level, on the observation date for that semiannual period.
The notes will be called at par of $10 plus the contingent coupon if the index closes at or above its initial level on any semiannual observation date.
If the notes are not called and the index finishes at or above its trigger level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the index’s decline.
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 index: | Russell 2000
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| Amount: | $205,500
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| Maturity: | Dec. 21, 2018
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| Coupon: | 8.2% per year, payable semiannually if index closes at or above trigger level on observation date for that semiannual period
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| Price: | Par of $10
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| Payout at maturity: | Par plus contingent coupon if index finishes at or above trigger level; otherwise, full exposure to index’s decline
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| Call: | Automatically at par if index closes at or above initial level on any semiannual observation date
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| Initial index level: | 1,121.020
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| Trigger level: | 784.714, 70% of initial level
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48128A798
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