By Susanna Moon
Chicago, Oct. 1 – JPMorgan Chase & Co. priced $450,000 of autocallable contingent interest notes due Sept. 29, 2017 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.3% if the stock closes at or above the trigger level, 80% of the initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial share price on any quarterly review date other than the final review date.
If the notes have not been called and the stock finishes at or above the trigger level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will be fully exposed to any losses.
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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Underlying stock: | Las Vegas Sands Corp. (Symbol: LVS)
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Amount: | $450,000
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Maturity: | Sept. 29, 2017
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Coupon: | 8.3%, payable if the stock closes at or above trigger level on quarterly review date
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Price: | Par of $1,000
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Payout at maturity: | If stock finishes at or above trigger level, par plus contingent coupon; otherwise, investors will be fully exposed to any losses
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Call: | At par plus contingent coupon if stock closes at or above initial share price on any quarterly review date other than final review date
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Initial level: | $61.93
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Trigger price: | $49.544, 80% of initial share price
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Pricing date: | Sept. 26
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Settlement date: | Sept. 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.5%
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Cusip: | 48127DC71
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