By Marisa Wong
Morgantown, W.Va., Sept. 4 – JPMorgan Chase & Co. priced $2.5 million of autocallable contingent interest notes due Sept. 7, 2018 linked to the lesser performing of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at a rate of 9.5% per year if each index closes at or above its barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the lesser-performing index.
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
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| Amount: | $2.5 million
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| Maturity: | Sept. 7, 2018
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| Coupon: | 9.5% per year, payable quarterly if each index closes at or above its barrier level on quarterly review date
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| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its trigger level, in which case full exposure to the decline of the lesser-performing index
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| Call: | At par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date
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| Initial index levels: | 1,913.85 for S&P 500 and 3,188.73 for Euro Stoxx
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| Barrier/trigger levels: | 1,339.695 for S&P 500, 2,232.111 for Euro Stoxx; 70% of initial levels
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| Pricing date: | Sept. 1
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| Settlement date: | Sept. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.4%
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| Cusip: | 48125U3T7
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