By Jennifer Chiou
New York, March 18 – JPMorgan Chase & Co. priced $531,000 of autocallable contingent interest notes due March 21, 2016 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 10% if the fund closes at or above the 65% barrier level on the review date for that quarter.
The notes will be called at par plus the coupon if the fund closes 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 coupon unless the fund finishes below the 65% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETF: | Market Vectors Gold Miners exchange-traded fund
|
| Amount: | $531,000
|
| Maturity: | March 21, 2016
|
| Coupon: | 10% per year, payable quarterly if fund closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless fund finishes below trigger level, in which case full exposure to any losses
|
| Call: | At par plus coupon if fund closes at or above initial level on any review date other than final review date
|
| Initial level: | $18.12
|
| Barrier level: | $11.778, 65% of initial level
|
| Pricing date: | March 16
|
| Settlement date: | March 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48125UJM5
|
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