By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – JPMorgan Chase & Co. priced $3,992,000 of autocallable contingent interest notes due March 1, 2017 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B8 filed with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 6% if each index closes at or above its coupon barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par if both indexes close above their initial level or if neither index has dropped below its trigger value, 70% of its initial level, on any day during the observation period.
Otherwise investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Indexes: | S&P 500 and Russell 2000
|
| Amount: | $3,992,000
|
| Maturity: | March 1, 2017
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 6% if each index closes at or above coupon barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below initial value on Feb. 24, 2017 and either index has closed below 70% of its initial value on any day during the life of the notes, in which case full exposure to decline of lesser-performing index
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 2,089.14 for S&P 500 and 1,188.814 for Russell 2000
|
| Interest barrier/trigger values: | 1,462.398 for S&P 500 and 832.1698 for Russell 2000; 70% of initial levels
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.9545%
|
| Cusip: | 48128GBQ2
|
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