By Marisa Wong
Morgantown, W.Va., Feb. 17 – JPMorgan Chase & Co. priced $2.75 million of trigger callable contingent yield notes due Feb. 15, 2018 with daily coupon observation linked to the lesser performing of the Russell 2000 index and the S&P 500 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 10.75% if each index closes at or above its barrier level, 65% of its initial level, on each day during the quarterly observation period.
The notes will be callable at par on any coupon payment date.
The payout at maturity will be par unless either index finishes below its 65% 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.
|
| Issue: | Trigger callable contingent yield notes with daily coupon observation
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $2,745,000
|
| Maturity: | Feb. 15, 2018
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| Coupon: | 10.75% per year, payable quarterly if each index closes at or above its barrier level each day for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below trigger level, in which case full exposed to any losses of worse performing index
|
| Call option: | At par quarterly
|
| Initial levels: | 1,864.78 for S&P, 971.990 for Russell
|
| Barrier/trigger levels: | 1,212.11 for S&P, 631.794 for Russell; 65% of initial levels
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 18
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48128A178
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