By Susanna Moon
Chicago, Aug. 26 – JPMorgan Chase & Co. priced $1.77 million of autocallable contingent interest notes due Aug. 26, 2019 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the index closes at or above the 60% coupon barrier level on a review date 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 60% trigger level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to any 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: | $1,766,000
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| Maturity: | Aug. 26, 2019
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| Coupon: | 8% per year, payable quarterly if index closes at or above barrier that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless index finishes below trigger level, in which case full exposure to any 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 date
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| Initial level: | 192.1859
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| Trigger level: | 115.31154, 60% of initial level
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48125UP48
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