By Toni Weeks
San Luis Obispo, Calif., June 2 – JPMorgan Chase & Co. priced $640,000 of 0% review notes due June 15, 2016 linked to the common stock of KeyCorp, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 13.5% per year if KeyCorp stock closes at or above its initial share price on any quarterly review date.
If the notes are not called and the final share price is less than the initial share price by up to 15%, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% that the final share price is less than the initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying stock: | KeyCorp (Symbol: KEY)
|
| Amount: | $640,000
|
| Maturity: | June 15, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par if final share price is less than initial share price by up to 15%; otherwise, 1% loss for each 1% that final share price is less than initial share price
|
| Call: | At par plus premium of 13.5% per year if KeyCorp stock closes at or above initial share price on any quarterly review date
|
| Initial share price: | $14.58
|
| Final share price: | Average of stock’s closing share prices on five trading days ending June 10, 2016
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 48125UVC3
|
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