By Susanna Moon
Chicago, May 30 - JPMorgan Chase & Co. priced $2.2 million of callable contingent interest notes due May 31, 2018 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each component closes at or above its 65% barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of 7.5% for that quarter.
The notes are callable at par plus the contingent coupon on any interest payment date other than the final date.
The payout at maturity will be par plus the contingent coupon unless either index finishes below the 65% trigger level, in which case the payout will be par plus the return of the worst performing component with full exposure to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2.2 million
|
| Maturity: | May 31, 2018
|
| Contingent coupon: | 7.5% per year if each component closes at or above barrier level on review date, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either index falls and ever closes below trigger level, in which case par plus return of worst performing component, capped at par
|
| Call: | At par plus contingent coupon on any quarterly review date other than final review date
|
| Barrier/trigger levels: | 1,072.8315 for S&P and 639.782 for Russell; 65% of initial levels
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.473%
|
| Cusip: | 48126NBQ9
|
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