By Susanna Moon
Chicago, Jan. 27 – JPMorgan Chase & Co. priced $924,500 of contingent income autocallable securities due Jan. 28, 2016 linked to Mylan Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly payment of 2.0625% if the stock closes at or above its 80% barrier level on the observation date for that quarter.
The notes will be redeemed at par plus the contingent payment if the stock closes at or above the initial level on any determination date other than the final date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 80% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management as distributor.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Mylan Inc. (Symbol: MYL)
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| Amount: | $924,500
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| Maturity: | Jan. 28, 2016
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| Coupon: | 2.0625% per quarter, payable if stock closes at or above its 80% barrier level on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless the stock finishes below its 80% trigger level, in which case 0.18447 shares
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| Call: | At par plus contingent payment if the stock closes at or above initial level on any determination date other than the final date
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| Initial level: | $54.21
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| Barrier level: | $43.368, 80% of initial level
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 28
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management
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| Fees: | 1.25%
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| Cusip: | 48127R834
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