New Issue: JPMorgan prices $885,000 autocallable reverse exchangeables linked to Twitter

By Angela McDaniels

Tacoma, Wash., July 21 – JPMorgan Chase & Co. priced $885,000 of 8% autocallable reverse exchangeable notes due July 28, 2016 linked to the common stock of Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes will be called at par if Twitter stock closes at or above the initial share price on Jan. 19, 2016 or April 18, 2016.

If the notes are not called, the payout at maturity will be par unless the final share price is less than the initial share price and the stock closes below the trigger price, 55% of the initial share price, on any day during the life of the notes, in which case the payout will be a number of Twitter shares equal to $1,000 divided by the initial share price.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Autocallable reverse exchangeable notes
Underlying stock:	Twitter, Inc. (Symbol: TWTR)
Amount:	$885,000
Maturity:	July 28, 2016
Coupon:	8%, payable monthly
Price:	Par
Payout at maturity:	Par unless final share price is less than initial share price and stock closes below trigger price on any day during life of notes, in which case 28.0348 Twitter shares
Call:	At par if stock closes at or above initial share price on Jan. 19, 2016 or April 18, 2016
Initial share price:	$35.67
Trigger value:	$19.6185, 55% of initial share price
Pricing date:	July 17
Settlement date:	July 22
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	46625HMH0

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