New Issue: JPMorgan prices $1 million 14.9% autocallable yield notes on Twitter

By Wendy Van Sickle

Columbus, Ohio, Nov. 12 – JPMorgan Chase & Co. priced $1 million of autocallable yield notes due Nov. 18, 2016 linked to the common stock of Twitter, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The notes will be called at par if Twitter stock closes at or above the initial share price on any monthly review date other than the final date.

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, 50% 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 or, at the issuer’s option, an amount in cash equal to the value of those shares.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Autocallable yield notes
Underlying:	Twitter, Inc.
Amount:	$1 million
Maturity:	Nov. 18, 2016
Coupon:	14.9%, payable quarterly
Price:	Par
Payout at maturity:	Par in cash unless stock finishes below barrier price, in which case number of shares equal to $1,000 divided by the initial price
Call:	At par plus accrued interest on any quarterly call date, starting May 9, 2016, if stock closes at or above initial price
Initial level:	$27.09
Trigger level:	$13.545, 50% of initial level
Pricing date:	Nov. 9
Settlement date:	Nov. 13
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48128GCU2

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