By Susanna Moon
Chicago, June 2 – JPMorgan Chase & Co. priced $3.27 million of autocallable contingent interest notes due Dec. 5, 2016 linked to the worst performing of the common stocks of Apple Inc., Gilead Sciences, Inc. and Tiffany & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a continent quarterly coupon at an annualized rate of 8.3% if each stock closes at or above its barrier share price, 60% of its initial share price, on the review date for that quarter.
The notes will be called at par plus the coupon if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the contingent coupon unless any stock finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing stock
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 stocks: | Apple Inc. (Symbol: AAPL), Gilead Sciences, Inc. (Symbol: GILD) and Tiffany & Co. (Symbol: TIF)
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Amount: | $3,265,000
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Maturity: | Dec. 5, 2016
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Coupon: | 8.3% per quarter that each stock 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 contingent coupon unless any stock finishes below barrier level, in which case full exposure to any losses of the worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above initial share price on any quarterly review date
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Barrier levels: | 60% of initial levels
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Pricing date: | May 27
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Settlement date: | June 1
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 46625HLM0
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