By Marisa Wong
Madison, Wis., Jan. 2 – JPMorgan Chase & Co. priced $500,000 of autocallable contingent interest notes due Jan. 5, 2018 linked to Yahoo! Inc. 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 the stock closes at or above the trigger level, 70% 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.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Yahoo! Inc. (Symbol: YHOO)
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| Amount: | $500,000
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| Maturity: | Jan. 5, 2018
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| Coupon: | 9%, payable if the stock closes at or above trigger level on quarterly review date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below trigger level, in which case investors will be fully exposed to any losses
|
| 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
|
| Initial level: | $51.22
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| Trigger price: | $35.854, 70% of initial share price
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| Pricing date: | Dec. 30
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| Settlement date: | Jan. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.35%
|
| Cusip: | 48127D5C8
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