By Susanna Moon
Chicago, July 14 – JPMorgan Chase & Co. priced $4.39 million of autocallable contingent interest notes due July 13, 2018 linked to the S&P GSCI Crude Oil Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if the index closes at or above the 65% barrier level on a review date for that quarter.
If the index closes at or above the initial share price on any review date other than the final review date, the notes will be called at par plus the coupon.
If the notes have not been called and the index finishes at or above the barrier level, the payout at maturity will be par plus the coupon.
Otherwise, investors will be fully exposed to losses.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying asset: | S&P GSCI Crude Oil Index Excess Return
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Amount: | $4.39 million
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Maturity: | July 13, 2018
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Coupon: | 9.25% per year, payable quarterly if index at or above barrier that quarter
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Price: | Par
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Payout at maturity: | Par plus contingent coupon unless index finishes below trigger level, in which case investors share fully in losses
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Call: | At par plus contingent coupon if index closes at or above initial level on any review date other than final review date
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Barrier level: | 166.95484, 65% of initial level
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Pricing date: | July 10
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Settlement date: | July 15
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Agent: | J.P. Morgan Securities LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2%
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Cusip: | 48125UTQ5
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