By Susanna Moon
Chicago, Oct. 29 – JPMorgan Chase & Co. priced $780,000 of 11% autocallable reverse convertible notes due Jan. 26, 2017 linked to Tenet Healthcare Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Tenet stock closes at or above the initial share price on any review date other than the final date.
The payout at maturity will be par unless the stock ever closes at or below the 60% knock-in level during the life of the notes and the stock finishes below its initial level, in which case investors will receive a number of Tenet shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable reverse convertible securities
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| Underlying stock: | Tenet Healthcare Corp. (Symbol: THC)
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| Amount: | $780,000
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| Maturity: | Jan. 26, 2017
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| Coupon: | 11%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless Tenet stock falls and ever closes at or below knock-in price during life of notes, in which case 33.3444 Tenet shares
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| Call: | At par if Tenet shares close at or above initial share price on any review date other than the final date
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| Initial price: | $29.99
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| Knock-in price: | 60% of initial price
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.65%
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| Cusip: | 46625HNU0
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