By Jennifer Chiou
New York, Aug. 13 – JPMorgan Chase & Co. priced $1.45 million of contingent coupon callable yield notes due Aug. 16, 2016 linked to the common stock of lululemon athletica inc., according to a 424B2 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 coupon barrier – 65% of the initial share price – on any quarterly observation date.
The notes will be callable at par plus the contingent coupon, if any, on any quarterly interest payment date.
The payout at maturity will be par unless the stock finishes below its 65% knock-in level, in which case investors will receive par plus the stock return, with full exposure to losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent coupon callable yield notes
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| Underlying stock: | lululemon athletica inc. (Symbol: LULU)
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| Amount: | $1.45 million
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| Maturity: | Aug. 16, 2016
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| Coupon: | 12% per year, payable quarterly, if stock closes at or above barrier level on quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below knock-in level, in which case par plus the stock return, with full exposure to losses
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| Call option: | At par plus contingent coupon, if any, on any interest payment date beginning on Nov. 12
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| Initial price: | $40.38
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| Barrier/knock-in level: | $26.247, 65% of initial price
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48127DWS3
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