By Jennifer Chiou
New York, Aug. 4 – JPMorgan Chase & Co. priced $5,762,800 of contingent income autocallable securities due Aug. 3, 2017 linked to SanDisk Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 3.125% if SanDisk stock closes at or above the 80% barrier level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any quarterly determination date other than the final date.
If the notes are not called and SanDisk stock finishes at or above the 80% barrier level, the payout at maturity will be par plus the contingent payment.
Otherwise, investors will receive a number of shares of SanDisk stock equal to $10 divided by the initial share price or, at the issuer's option, the cash value of those shares.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | SanDisk Corp. (Nasdaq: SNDK)
|
| Amount: | $5,762,800
|
| Maturity: | Aug. 3, 2017
|
| Contingent coupon: | 3.125% for each quarter that SanDisk stock closes at or above barrier level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold level, par plus contingent payment; otherwise 0.10904 SanDisk shares
|
| Call: | At par plus contingent payment if stock closes at or above initial level on any quarterly determination date other than final one
|
| Initial share price: | $91.71
|
| Barrier level: | $73.368, 80% of initial share price
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Smith Barney, LLC
|
| Fees: | 2.25%
|
| Cusip: | 481246650
|
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