By Jennifer Chiou
New York, March 18 – JPMorgan Chase & Co. priced $6,028,000 of autocallable contingent interest notes due March 20, 2018 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 with the Securities and Exchange Commission.
Each quarter the notes will pay a contingent coupon at an annualized rate of 10% if the index closes at or above the 64% barrier level on the review date for that quarter.
The notes will be called at par plus the coupon if the index closes at or above the initial level on any review date other than the first, second, third and final review dates.
The payout at maturity will be par plus the coupon unless the index finishes below the 64% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying index: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $6,028,000
|
| Maturity: | March 20, 2018
|
| Coupon: | 10% per year, payable quarterly if index closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless index finishes below trigger level, in which case full exposure to any losses
|
| Call: | At par plus coupon if index closes at or above initial level on any review date other than first, second, third and final review dates
|
| Initial level: | 237.5363
|
| Barrier level: | 152.02323, 64% of initial level
|
| Pricing date: | March 16
|
| Settlement date: | March 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | Up to 1% for selling commissions
|
| Cusip: | 48125UDC3
|
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