By Susanna Moon
Chicago, July 21 – JPMorgan Chase & Co. priced $1.62 million of trigger phoenix autocallable notes due Jan. 23, 2017 linked to HomeAway, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 11.25% per year if the stock closes at or above its coupon barrier level, 65% of its initial price, on an observation date for that quarter.
The notes will be called at par if the stock closes at or above its initial price on any quarterly observation date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Trigger phoenix autocallable notes
|
| Underlying stock: | HomeAway, Inc. (Symbol: AWAY)
|
| Amount: | $1,616,300
|
| Maturity: | Jan. 23, 2017
|
| Coupon: | 11.25% per year if stock closes at or above its barrier level on any quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above its trigger level, par plus the final contingent coupon; otherwise, full exposure to any losses
|
| Call: | At par if stock closes at or above its initial price on any quarterly observation date
|
| Initial price: | $31.74
|
| Barrier level: | $20.63, 65% of initial price
|
| Pricing date: | July 17
|
| Settlement date: | July 22
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48127V868
|
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