New Issue: JPMorgan prices $714,000 8.25% callable reverse exchangeables on Amazon

By Susanna Moon

Chicago, March 22 – JPMorgan Chase & Co. priced $714,000 of 8.25% callable reverse exchangeable notes due March 27, 2017 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par plus accrued interest on either call date.

The payout at maturity will be par unless Amazon shares ever close below the trigger level, 65% of the initial share price, during the life of the notes and finish below the initial share price, in which case investors will receive a number of Amazon shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Callable reverse exchangeable notes
Underlying stock:	Amazon.com, Inc. (Symbol: AMZN)
Amount:	$714,000
Maturity:	March 27, 2017
Coupon:	8.25%, payable monthly
Price:	Par
Payout at maturity:	Par unless stock falls and closes below trigger price on any day during life of notes, in which case 1.81133 Amazon shares
Call option:	At par plus accrued interest on Sept. 26, 2016 or Dec. 27, 2016
Initial level:	$552.08
Trigger level:	$358.852, 65% of initial level
Pricing date:	March 18
Settlement date:	March 23
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	46625HQN3

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.