By Angela McDaniels
Tacoma, Wash., Oct. 31 – JPMorgan Chase & Co. priced $1.08 million of autocallable contingent interest notes due Oct. 31, 2019 linked to the least performing of the Russell 2000 index, the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annual rate of 7.7% if each underlying component closes at or above its interest 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 underlying component closes at or above its initial level on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless any underlying component finishes below its trigger level, 60% of its initial level, in which case investors will be fully exposed to the decline of the least-performing underlying component.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying components: | Russell 2000 index, iShares MSCI EAFE ETF and iShares MSCI Emerging Markets ETF
|
| Amount: | $1,078,000
|
| Maturity: | Oct. 31, 2019
|
| Coupon: | Notes pay quarterly contingent coupon at annual rate of 7.7% if each underlying component closes at or above barrier level on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless final level of any underlying component is less than trigger level, in which case full exposure to decline of least-performing underlying component
|
| Call: | Automatically at par plus contingent coupon if each underlying component closes at or above initial level on any quarter review date
|
| Initial levels: | 1,149.452 for Russell 2000, $62.82 for EAFE ETF and $41.52 for EM ETF; equal to closing levels on strike date
|
| Interest barriers: | 804.6164 for Russell 2000, $43.974 for EAFE ETF and $29.064 for EM ETF; 70% of initial levels
|
| Trigger levels: | 689.6712 for Russell 2000, $37.692 for EAFE ETF and $24.912 for EM ETF; 60% of initial levels
|
| Strike date: | Oct. 28
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.85%
|
| Cusip: | 48127DM39
|
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