By Susanna Moon
Chicago, April 28 – JPMorgan Chase & Co. priced $960,000 of autocallable contingent interest notes due April 27, 2018 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the 69% trigger level on a quarterly review date, the notes will pay a coupon at an annual rate of 10% for that quarter.
If the index closes at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the index finishes at or above the trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying asset: | S&P GSCI Crude Oil Index Excess Return
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Amount: | $960,000
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Maturity: | April 27, 2018
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Coupon: | 10% per year, payable quarterly if index at or above trigger price that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless index finishes below trigger price, in which case investors share fully in losses
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Call: | At par plus contingent coupon if index closes at or above initial level on any review date other than final review date
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Initial level: | 284.9756
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Barrier level: | 196.63316, 69% of initial level
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | J.P. Morgan Securities LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 1%
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Cusip: | 48125UDX7
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