By Wendy Van Sickle
Columbus, Ohio, Jan. 20 – JPMorgan Chase & Co. priced $845,000 of autocallable contingent interest notes due Feb. 1, 2017 linked to the common stock of Bristol-Myers Squibb Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12% if the stock closes at or above its interest barrier level, 80% of its initial price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any review date than the final date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 80% barrier 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
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| Underlying stock: | Bristol-Myers Squibb Co. (Symbol: BMY)
|
| Amount: | $845,000
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| Maturity: | Feb. 1, 2017
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| Coupon: | 12%, payable quarterly if stock closes at or above barrier level on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus the contingent coupon unless the stock finishes below its barrier level, in which case investors will be fully exposed to any losses
|
| Call: | At par if stock closes at or above its initial level on any quarterly review date other than the final review date
|
| Initial price: | $62.78
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| Barrier level: | $50.224, 80% of initial price
|
| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48128GKD1
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