By Susanna Moon
Chicago, Dec. 2 – JPMorgan Chase & Co. priced $1.06 million of trigger phoenix autocallable optimization securities due Nov. 27, 2018 linked to Monster Beverage 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 9% if Monster Beverage stock closes at or above the trigger price, 72.15% of the initial share price, on an observation date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial price on a quarterly observation date beginning May 20, 2016.
The payout at maturity will be par plus the contingent coupon unless Monster Beverage shares finish below the trigger price, 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 phoenix autocallable optimization securities
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| Underlying stock: | Monster Beverage Corp. (Symbol: MNST)
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| Amount: | $1,058,000
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| Maturity: | Nov. 27, 2018
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| Coupon: | 9% per year, payable quarterly if stock closes at or above trigger price on observation date for that quarter
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus contingent coupon if Celgene shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | At par plus contingent coupon if Celgene shares close at or above initial price on any quarterly observation date beginning May 20, 2016
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| Initial share price: | $148.09
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| Trigger price: | 72.15% of initial share price
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48127Y250
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