By Marisa Wong
Morgantown, W.Va., Feb. 23 – JPMorgan Chase & Co. priced $1.37 million of autocallable contingent interest notes due Feb. 20, 2019 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 10.5% per year if the index closes at or above the interest barrier level, 50% of the initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent 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 final contingent interest payment unless the final index level is less than the 50% trigger level, in which case investors will be fully exposed to the index’s decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying index: | S&P GSCI Crude Oil Index Excess Return
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| Amount: | $1,365,000
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| Maturity: | Feb. 20, 2019
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| Coupon: | 10.5%, payable quarterly if index closes at or above trigger level on review date for that quarter
|
| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if index finishes at or above trigger price; otherwise, full exposure to decline
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any review date other than first, second, third and final review dates
|
| Initial level: | 123.8516
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| Barrier/trigger level: | 61.9258, 50% of initial level
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| Pricing date: | Feb. 19
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| Settlement date: | Feb. 24
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.25%
|
| Cusip: | 48128GNQ9
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