By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – JPMorgan Chase & Co. priced $2.11 million of autocallable contingent interest notes due Jan. 25, 2017 linked to the common stock of AbbVie Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 14.65% per year if AbbVie shares close at or above the trigger level, 75% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if AbbVie shares close at or above the initial share price on April 21, 2016, July 21, 2016 or Oct. 20, 2016.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the trigger level, in which case investors will be fully exposed to the decline in the share 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 stock: | AbbVie Inc. (Symbol: ABBV)
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| Amount: | $2.11 million
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| Maturity: | Jan. 25, 2017
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| Coupon: | 14.65% per year, payable quarterly if stock closes at or above trigger price on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if AbbVie shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if AbbVie shares close at or above initial price on a quarterly review date
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| Review dates: | April 21, 2016, July 21, 2016 and Oct. 20, 2016
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| Initial share price: | $57.21.
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| Trigger price: | $42.9075, 75% of initial price
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 12
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48128GJG6
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