By Marisa Wong
Madison, Wis., July 7 – JPMorgan Chase & Co. priced $7.32 million of contingent income autocallable securities due July 7, 2016 linked to the S&P GSCI Crude Oil Index Excess Return, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 3.6% if the index closes at or above its downside threshold level, 80% of its initial level, on the observation date for that quarter.
The notes will be called at par if the index closes at or above its initial level on any determination date other than the final determination date.
The payout at maturity will be par unless the index finishes below its downside threshold level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying index: | S&P GSCI Crude Oil Index Excess Return
|
| Amount: | $7,315,000
|
| Maturity: | July 7, 2016
|
| Coupon: | 3.6% per quarter if index closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless index finishes below downside threshold level, in which case full exposure to any losses
|
| Call: | At par if index closes at or above initial level on any quarterly determination date other than final date
|
| Initial level: | 289.5632
|
| Downside threshold level: 231.65056, or 80% of initial level
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 48125UTP7
|
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