By Susanna Moon
Chicago, Dec. 14 – JPMorgan Chase & Co. priced $1 million of 14.4% reverse exchangeable notes due Dec. 12, 2016 linked to Matador Resources Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock finishes below its trigger level, 70% of the initial share price, in which case the payout will be a number of Matador shares equal to $1,000 divided by the strike price of $21.21.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Reverse exchangeable notes
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| Underlying stock: | Matador Resources Co. (Symbol: MTDR)
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| Amount: | $1 million
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| Maturity: | Dec. 12, 2016
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| Coupon: | 14.4%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless stock falls below trigger level, in which case a number of Matador shares equal to $1,000 divided by strike price
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| Strike price: | $21.21
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| Trigger value: | 75% of the strike price
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 46625HPR5
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