By Wendy Van Sickle
Columbus, Ohio, Jan. 14 – JPMorgan Chase & Co. priced $2 million of autocallable contingent buffered return enhanced notes due Jan. 17, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be automatically called at par of $1,000 plus a call premium of 17.27% a year if the fund closes at or above the initial share price on Jan. 12, 2017 and Jan. 12, 2018.
The payout at maturity will be par plus 1.5 times any fund gain.
Investors will receive par if the shares fall by up to 50% and will be fully exposed to losses if the fund finishes below the 50% contingent buffer level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent buffered notes
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| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $2 million
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| Maturity: | Jan. 17, 2019
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus 1.5 times any fund gain; par if shares fall by up to buffer level; full exposure to loss beyond buffer
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| Call: | Automatically at par plus premium of 17.27% a year if the fund closes at or above the initial share price on Jan. 12, 2017 and Jan. 12, 2018
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| Initial fund value: | $26.12
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| Buffer level: | 50% of initial value
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 15
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48128GJA9
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