New York, Aug. 28 – JPMorgan Chase & Co. priced $14.54 million of autocallable contingent interest notes due Sept. 14, 2016 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 20% per year if Apple shares close at or above the trigger level, 80% 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 Apple shares close at or above the initial share price on any review date other than the final review date.
The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the 80% trigger level, in which case investors will lose 1% for every 1% that the final share price is less than the initial 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: | Apple Inc. (Symbol: AAPL)
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| Amount: | $14,540,000
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| Maturity: | Sept. 14, 2016
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| Coupon: | Each quarter, notes pay contingent coupon at rate of 20% per year if Apple shares close at or above trigger level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final contingent interest payment unless final share price is less than trigger level, in which case investors lose 1% for every 1% that final share price is less than initial share price
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| Call: | Automatically at par plus contingent coupon if Apple shares close at or above initial share price on any review date other than final review date
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| Initial share price: | $109.69
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| Trigger level: | $87.752, 80% of initial share price
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| Final share price: Average of stock’s closing share prices on five trading days ending Sept. 9, 2016
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48125US60
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