By Marisa Wong
Madison, Wis., Jan. 22 - JPMorgan Chase & Co. priced $1.92 million of contingent coupon callable yield notes due Jan. 25, 2016 linked to the common stock of Goldcorp Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay an annualized coupon of 10.25% if Goldcorp stock closes at or above the barrier level, 60% of the initial share price, on the observation date for that quarter.
If the final share price is greater than or equal to the barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
The notes will be callable at par on any interest payment date other than the final interest payment date.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Contingent coupon callable yield notes
|
| Underlying stock: | Goldcorp Inc. (Symbol: GG)
|
| Amount: | $1,915,000
|
| Maturity: | Jan. 25, 2016
|
| Coupon: | 10.25% per year, payable each quarter if Goldcorp stock closes at or above barrier price on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier price, par; otherwise, 1% loss for every 1% that final share price is less than initial share price
|
| Call option: | At par on any interest payment date other than final interest payment date
|
| Initial price: | $23.17
|
| Barrier price: | $13.902, 60% of initial price
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48126NY27
|
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