By Marisa Wong
Morgantown, W.Va., Jan. 7 – JPMorgan Chase & Co. priced $1 million of autocallable contingent interest notes due Jan. 4, 2018 linked to the worst performing of the common stocks of General Electric Co., Microsoft Corp. and Wells Fargo & Co., according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.5% if each stock closes at or above its coupon barrier level, 60% of its initial price, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final review date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will receive a number of shares of the worst performing stock equal to $1,000 divided by that stock’s initial price.
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 stocks: | General Electric Co. (Symbol: GE), Microsoft Corp. (Symbol: MSFT) and Wells Fargo & Co. (Symbol: WFC)
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| Amount: | $1 million
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| Maturity: | Jan. 4, 2018
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| Coupon: | 7.5%, payable quarterly if each stock closes at or above barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock ends below trigger level, in which case a number of shares of the worst performing stock equal to $1,000 divided by that stock’s initial price
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| Call: | At par if each stock closes at or above its initial level on any quarterly review date other than the final review date
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| Initial levels: | $31.28 for GE, $56.55 for Microsoft, $55.29 for Wells Fargo
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| Barrier/trigger levels: | $18.768 for GE, $33.93 for Microsoft, $33.174 for Wells Fargo; 60% of initial prices
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.4%
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| Cusip: | 46625HPX2
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