By Susanna Moon
Chicago, Oct. 1 – JPMorgan Chase & Co. priced $3.24 million of 0% trigger autocallable optimization securities due Sept. 30, 2016 linked to iShares Russell 2000 exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call return of 8% per year if the fund closes at or above the initial level on any quarterly observation date.
The payout at maturity will be par unless the fund 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.
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| Issue: | Trigger autocallable optimization securities
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| Underlying fund: | iShares Russell 2000 ETF
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| Amount: | $3,241,500
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| Maturity: | Sept. 30, 2016
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par if fund falls by up to trigger level; otherwise, full exposure to any losses
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| Call: | At par plus 8% per year if fund closes at or above initial basket level on any quarterly observation date
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| Initial level: | $111.12
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| Trigger level: | $72.23, 65% of initial level
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 30
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48127H596
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