By Marisa Wong
Madison, Wis., Aug. 29 – JPMorgan Chase & Co. priced $451,000 of 0% trigger autocallable optimization securities due Aug. 30, 2019 linked to the common stock of Range Resources Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Beginning one year after issuance, the notes will be called at par of $10 plus a call return of 8% per year if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the shares finish at or above the 63% trigger level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the share price.
J.P. Morgan Securities LLC and UBS Financial Services Inc. are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Trigger autocallable optimization securities
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| Underlying stock: | Range Resources Corp. (Symbol: RRC)
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| Amount: | $451,000
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| Maturity: | Aug. 30, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par if Range Resources stock finishes at or above trigger price; otherwise, exposure to losses
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| Call option: | Par plus 8% per year if Range Resources stock closes at or above the initial share price on any of the quarterly observation dates beginning on Aug. 31, 2015
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| Initial price: | $78.02
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| Trigger price: | $49.15, 63% of initial price
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| Pricing date: | Aug. 27
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| Settlement date: | Aug. 29
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 481246361
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