By Marisa Wong
Madison, Wis., April 7 – JPMorgan Chase & Co. priced $3.26 million of contingent income autocallable securities due April 10, 2019 linked to the worst performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent payment at an annual rate of 7.75% if each index closes at or above its downside threshold level, 74.5% of its initial share price, on the determination date for that quarter.
The notes will be redeemed at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date other than the final date.
If the notes are not called and each index finishes at or above its downside threshold level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline of the worst-performing index.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx 50 and Russell 2000
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| Amount: | $3.26 million
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| Maturity: | April 10, 2019
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| Coupon: | 7.75%, payable quarterly if each index closes at or above downside threshold level on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless either index finishes below downside threshold level, in which case exposure to decline of worst-performing index
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| Call: | At par plus contingent payment if each index closes at or above initial level on any quarterly determination date other than the final date
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| Initial levels: | 3,697.38 for Euro Stoxx 50 and 1,252.772 for Russell 2000
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| Downside thresholds: | 2,754.5481 for Euro Stoxx 50 and 933.31514 for Russell 2000, 74.5% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 7
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| Agent: | J.P. Morgan Securities LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 48127T574
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