By Angela McDaniels
Tacoma, Wash., Aug. 1 – JPMorgan Chase & Co. priced $520,000 of autocallable contingent interest notes due Aug. 4, 2016 linked to the common stock of 3D Systems Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 13.75% if 3D Systems shares close at or above the interest barrier, 70% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if 3D Systems shares close at or above the initial share price on any review date other than the final review date.
If the final share price is greater than or equal to the trigger level, 60% of the initial share price, the payout at maturity will be par plus the final contingent interest payment, if any. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stock: | 3D Systems Corp. (Symbol: DDD)
|
| Amount: | $520,000
|
| Maturity: | Aug. 4, 2016
|
| Coupon: | Each quarter, notes pay contingent coupon at annual rate of 13.75% if 3D Systems shares close at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to trigger level, par plus final contingent interest payment, if any; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call: | Automatically at par plus contingent coupon if 3D Systems shares close at or above initial share price on any review date other than final review date
|
| Initial share price: | $56.07
|
| Interest barrier: | $39.249, 70% of initial share price
|
| Trigger level: | $33.642, 60% of initial share price
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 4
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48127DUH9
|
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