By Angela McDaniels
Tacoma, Wash., Oct. 30 – JPMorgan Chase & Co. priced $34,000 of autocallable contingent interest notes due Feb. 1, 2017 linked to the lesser performing of the Dow Jones industrial average and the iShares MSCI EAFE exchange-traded fund, 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% if each underlier 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 underlier 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 underlier closes below its barrier level on any day during the life of the notes and either underlier finishes below its initial level, in which case investors will be fully exposed to the decline of the lesser-performing underlier.
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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Underliers: | Dow Jones industrial average and iShares MSCI EAFE ETF
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Amount: | $34,000
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Maturity: | Feb. 1, 2017
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Coupon: | Notes pay quarterly contingent coupon at annual rate of 7% if each underlier 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 final coupon unless either underlier falls below barrier level during life of notes and either underlier finishes below initial level, in which case full exposure to decline of lesser-performing underlier
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date other than final one
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Initial levels: | 17,581.43 for index and $61.29 for fund
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Barrier levels: | 12,307.001 for index and $42.903 for fund; 70% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48125U6L1
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