New York, July 14 – JPMorgan Chase & Co. priced $1,036,000 of contingent income autocallable securities due July 13, 2018 linked to Tesla Motors, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
If Tesla Motors stock closes at or above the downside threshold level of $194.3625 on a quarterly determination date, the notes will pay a contingent payment of 3.5% for that quarter.
If Tesla Motors stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.
If the Tesla Motors stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The agent is J.P. Morgan Securities LLC.
Issuer: | JPMorgan Chase & Co.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Tesla Motors, Inc.
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Amount: | $1,036,000
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Maturity: | July 13, 2018
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Contingent payment: | 3.5% for quarter if Tesla Motors stock closes at or above downside threshold level on determination date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par plus contingent coupon if Tesla Motors stock finishes at or above downside threshold; otherwise full exposure to any losses
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Call: | At par plus contingent payment if Tesla Motors stock closes at or above initial share price on any determination date
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Initial share price: | $259.15
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Trigger level: | $194.3625, 75% of initial price
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Pricing date: | July 10
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Settlement date: | July 15
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Agents: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48127X153
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