By Angela McDaniels
Tacoma, Wash., Feb. 12 - JPMorgan Chase & Co. priced $2.66 million of autocallable contingent interest notes due Aug. 15, 2016 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlying index closes at or above its 65% barrier level on a quarterly review date, the notes will pay a coupon at an annualized rate of 7% for that quarter.
If each index closes at or above its initial level on any review date other than the first, second and final review dates, the notes will be called at par plus the coupon.
If the notes have not been called, the payout at maturity will be par plus the coupon unless either underlying index finishes below its 65% trigger level, in which case investors will lose 1% for every 1% decline in the lowest performing underlying index from its initial level.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | S&P 500 and Euro Stoxx 50
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Amount: | $2.66 million
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Maturity: | Aug. 15, 2016
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Coupon: | 7% per year, payable quarterly if each underlying index closes at or above barrier level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par plus coupon unless either underlying index finishes below trigger level, in which case 1% loss for every 1% decline in lowest performing underlying index from initial level
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Call: | At par plus coupon if each index closes at or above initial level on any review date other than the first, second and final review dates
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Initial levels: | 1,799.84 for S&P 500 and 3,032.53 for Euro Stoxx 50
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Barrier/trigger levels: | 1,169.896 for S&P 500 and 1,971.1445 for Euro Stoxx 50, 65% of initial levels
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Pricing date: | Feb. 10
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Settlement date: | Feb. 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.0977%
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Cusip: | 48126N3T2
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