By Susanna Moon
Chicago, Dec. 11 – JPMorgan Chase & Co. priced $329,000 of trigger phoenix autocallable optimization securities due Dec. 10, 2020 linked to WhiteWave Foods Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8% if WhiteWave stock closes at or above the trigger level, 63% of the initial level, on an observation date for that month.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a monthly observation date after one year.
The payout at maturity will be par plus the contingent coupon unless WhiteWave shares finish below the trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Trigger phoenix autocallable optimization securities
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| Underlying stock: | WhiteWave Foods Co. (Symbol: WWAV)
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| Amount: | $329,000
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| Maturity: | Dec. 10, 2020
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| Coupon: | 8% per year, payable monthly if stock closes at or above trigger price on observation date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if WhiteWave shares finish at or above trigger level; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if WhiteWave shares close at or above initial price on any monthly observation date beginning Dec. 5, 2016
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| Initial share price: | $38.61
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| Trigger price: | 63% of initial share price
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
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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: | 48128A806
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